£180m of Existing Liverpool City Region Schemes that will help drive our Economic Recovery
- Annual Review highlights £180m in investments agreed by the Combined Authority last year
- Vital projects in infrastructure, advanced manufacturing, skills and culture will help drive city region’s economic recovery
£180 million of investments in the Liverpool City Region’s economy that were made last year will be vital to driving the region’s post COVID-19 economic recovery, says Metro Mayor Steve Rotheram.
Published at its meeting today, which includes its Annual General Meeting, (Friday 5th June), the Combined Authority’s 2019-20 Annual Review highlights investments in key strategic projects across the whole city region and priority economic sectors from digital infrastructure and advanced manufacturing to the Mersey Tidal Power scheme.
The Combined Authority will also consider the city region’s four key priority themes from economic recovery announced last week, focussing on supporting businesses to adapt and thrive, jobs and skills, places and infrastructure and identifying opportunities to Build Back Better in the post COVID-19 city region.
Steve Rotheram, Metro Mayor of the Liverpool City Region, said:
“Before the crisis struck, the Liverpool City Region had the fastest economic growth in England at 3.5% a year and well above average productivity growth. Over the last ten years, our business base has also grown faster than national rates, with real strengths in; retail, culture and visitor economy, health and infectious disease control, advanced manufacturing and high-performance computing.
“Looking back at last year shows that we have been continuing this progress across the city region and in our key sectors. With funding available to us because of devolution, we invested more than £180 million last year in strategic schemes to continue to grow our economy for the benefit of all residents in our city region.
“These investments and projects now take-on even greater importance as we work with our Local Authority leaders, the Local Enterprise Partnership, businesses, Trade Unions, the community and voluntary sector and national government, to assess the economic impact of Coronavirus, understand the needs of our communities and develop region-wide plans for economic recovery.
“They will be a vital part of our ambitious post COVID-19 economic recovery plan to ensure we build back better than before.”
The Metro Mayor highlighted examples of key investments and projects in transport, digital infrastructure, advanced manufacturing, skills and culture.
And he also highlighted the importance of longer-term strategic projects and the essential requirement for substantial government support, adding:
“The reality is that the scale of the challenge means that we need central government to step-up and provide significant financial support, running into hundreds of millions of pounds. We’re identifying shovel-ready schemes that just need investment to kick- start the recovery.
“We also need Government support to progress longer-term programmes like our potentially world-leading Mersey Tidal Power project that could provide clean, predictable power for up to 1 million homes, whilst creating thousands of jobs. The government also needs to make good on its commitment to link the Liverpool City Region to the high-speed rail network through Northern Powerhouse Rail and HS2.”
Nine Existing City Region Schemes that will help us Build Back Better: