Express & Star

Chancellor Philip Hammond says Midlands powerhouse 'can rival London'

The Midlands can be a 'powerful economic force' that can rival London in terms of the size and scale of its market, the Chancellor of the Exchequer has said.

Published

Philip Hammond says the Government is committed to making a success of devolution in the region, as he laid out new plans for driving new growth to boost infrastructure and skills.

The Chancellor was speaking during a visit to General Electric (GE) in Stafford.

He told the Express & Star: "We have got a major opportunity in the West Midlands to connect the region's population areas and make them work successfully together to create a single market place for goods, labour and services.

"It will radically increase the productivity of business in the Midlands. We are committed to this agenda and want to make sure the Midlands reaches its full potential and contributes towards the transformation that we have to deliver across the UK. This is a vitally important area of the country and giving the size of its population, if we get this right the Midlands has the potential to rival London in terms of size and scale of market.

"It can certainly be a powerful economic force." During his visit to GE's sprawling site at Redhill Business Park, Mr Hammond outlined the Government's modern industrial strategy.

It features 10 'key pillars' that he says will drastically reduce regional disparities in opportunity and prosperity. One of the most important things we have to do is build on the strengths we have as a country and make sure best practice is shared," he said. "GE represents a very deep rooted tradition in this area. Large companies like this are well positioned to exploit the opportunities that will be available to the UK as we leave the EU.

"Part of our focus is to ensure that the skills that businesses need are available, so that all of our businesses, of whatever size, can flourish." The strategy is due to go out to a 12-week consultation, inviting contributions from industries, businesses, community groups and workers.

The Chancellor was accompanied on his visit by Stafford MP Jeremy Lefroy.

Sorry, we are not accepting comments on this article.