Conservative Leadership candidates encouraged to recognise the importance of the East of England
“Investment in the East would show a greater return for the whole of the UK than an equivalent amount of investment in any other region”, says Eastern Powerhouse chairman James Palmer.
The Eastern Powerhouse has sent a letter to all candidates in the Conservative Party Leadership race to signpost the East of England as a key development priority for any future Prime Minister. It calls for a programme of smart investment in the East – particularly in sectors like agriculture, energy, life sciences, and tech – that would supercharge local economies and spur growth across the country.
Strategic investment in the East of England could see:
- The UK economy grow by at least £30bn per annum
- A £11.5bn boost to Her Majesty’s Treasury
- An annual increase of £3,100 in per capita disposable income for East of England residents
From the letter, authored for the Eastern Powerhouse by James Palmer:
“The Eastern Powerhouse represents almost 7 million people who live in Bedfordshire, Cambridgeshire, Essex, Lincolnshire, Norfolk and Suffolk, a geographic area that has produced no less than 52 Conservative MP’s. We are the 4th largest economy in the UK and home to some of the most innovative and dynamic businesses in the country.
Despite this, in terms of investment the East has often been short-changed in comparison to other UK regions, with government spending in the area per capita being around half the national average. I hope that as the new Prime Minister, you will work with us to address this issue.
My humble request is this: when you are discussing the future of the United Kingdom – and in particular, the levelling up agenda – please ensure that the East of England is no longer simply passed over (as it has been historically). The potential of the region is such that it should be at the heart of any UK policy aimed at growing the economy, developing this country’s infrastructure, and levelling the playing-field between regions”