East Midlands Aims for Inclusive Growth with £4 Billion Government Investment

Strategic Insights -

The East Midlands is set to undergo a significant transformation with the help of a £4 billion Government investment, aimed at driving growth and creating opportunities for the region's residents. Claire Ward, the Labour Mayor of the area, has outlined plans for inclusive growth, which will see the establishment of an Inclusive Growth Commission to guide the region's investment and identify the best opportunities for economic growth.

Key Takeaways:

  • The East Midlands Combined Authority (EMCCA) has been appointed to run the Inclusive Growth Commission, which will be led by Dr Andy Haldane, the Chief Executive of the Royal Society of Arts.
  • The commission's recommendations will be published in September, ahead of EMCCA's Local Growth Plan.
  • The plan aims to create 100,000 jobs, deliver 52,000 new homes, and add £4.6 billion to the region's economy.
  • Inclusive growth means every child and every young person gets the best opportunities, regardless of where they live, with a focus on improving public transport, providing free travel for youngsters, and offering well-paid and secure jobs and affordable homes.
  • EMCCA is committed to creating an economy that works for all, with a focus on making business a positive force in the community.

Statistics:

  • The £4 billion Government investment aims to open up the potential for nationally-significant developments, business expansion, jobs growth, transport improvements, and more housing.
  • The commission's recommendations will focus on ways of making it easier for people to climb the opportunity ladder through step-by-step skills improvement, overcoming health challenges that prevent people from working, and by making sure they have the technology and transport connections to pursue jobs and careers wherever they live.
  • EMCCA brings together representatives from four local authorities - Derbyshire County Council, Derby City Council, Nottinghamshire County Council, and Nottingham City Council.
  • The East Midlands authority will deal with broader issues like transport, regeneration, and employment, while the four local authorities will still oversee many public services.

Sources:

  • Mayor Claire Ward, East Midlands Combined Authority (EMCCA)
  • Dr Andy Haldane, Royal Society of Arts (RSA)
  • Government plans for inclusive growth and economic development
  • Local authorities involved in EMCCA, including Derbyshire County Council, Derby City Council, Nottinghamshire County Council, and Nottingham City Council