The success of the Northern Powerhouse will depend on improved performance in investment, skills, innovation and transport infrastructure, a major review has found.
Commissioned by Transport for the North, the Northern Powerhouse Independent Economic Report said policy-makers for the North needed a “reality check” to ensure policies and strategies were robust and evidence-based.
However, it found that digital technologies, health innovation, energy and advanced manufacturing have the potential to transform the North of England’s economy, adding £97bn and 850,000 jobs by 2050.
John Cridland (pictured), chair of Transport for the North, said: “This review clearly identifies that, if the right investment and focus is put into these capabilities, and the infrastructure is there to support them, then 1.56m new jobs could be generated by 2050.
“Close to a million (850,000) of these will be directly attributable to the success of the Northern Powerhouse and we would expect productivity (GVA) to be 15% higher than currently, which in itself would represent a major step-change for the North.”
Sir Richard Leese, leader of Manchester City Council, said the “prevailing economic uncertainty” after the EU referendum result made it “even more essential” that northern cities are given the tools and investment to work together to create jobs and economic opportunities.
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