LEEDS CITY REGION – ECONOMIC PROSPECTS MARCH 2017
Leeds City Region unemployment rate fell to 5.3% in Q3 2016
down from 5.7% in Q2. This is lower than Greater Manchester at 6.3% and Greater
Birmingham at 7.4%. Both these regions though performing worse are of a
comparable size to Leeds City Region and have been granted devolution by the
Conservative Government whilst Leeds City Region have been denied the deal they
were originally offered.
In Yorkshire and Humber business activity continued to expand
strongly and had the third highest pace of expansion of the English Regions.
The success of the region is driven by the economic strength
of Leeds and has been aided by the Growth Deal struck with the co-illation
government, the largest deal in the country. When the deal was announced, it
was stated that it was in recognition of the partnership between Local
Government and the private sector in the Leeds City Region and the success in
growing the economy.
There is no doubt that the current growth has been aided by
state aid from both Europe and the National Government and whilst that lasts
there is a good chance the growth in Leeds City Region will continue.
Unfortunately, the ending of European support in two years’
time, or earlier, will make the region reliant on support from Central
Government. All the indicators are that we will be left behind; now the only
new investment we seem to attract from central government is the building of a
new prison. Whilst deals are announced, with and without Mayors, on regions
smaller and less cohesive than the Leeds City Region with no track record of
delivering or of any partnership working, we are denied.
The Minister for the “Northern Powerhouse” told us bluntly
that the Conservative MP’s in our area have vetoed our deal. Whilst Manchester
MP’s meet weekly in the commons to decide how to lobby for their region, our
MPs are more interested in gerrymandering and following their personal agendas
and plotting against their local authorities.
Am I optimistic for the Region? NO.
