Government launches ‘Midlands Engine Strategy’

The Midlands Engine Strategy aims to build on the Industrial Strategy by setting out the actions the government is taking to address productivity barriers across the Midlands.

It sets out a variety of commitments, including “significant investment in local growth” through £392 million of funding for the Midlands through the Local Growth Fund.

Improving connectivity, strengthening skills, and supporting enterprise and innovation are also among the commitments.

“We are setting up a flagship Midlands Skills Challenge to improve skills across the Midlands, with £20 million new funding to improve employment prospect,” the strategy said.

“We will shortly be launching the Midlands Engine Investment Fund which will provide over £250 million to support small businesses across the Midlands to grow and diversify.”

Promoting trade and investment and enhancing quality of life are also among the government’s commitments.

The strategy explains that the government will shortly publish a Midlands Engine Investment Portfolio to showcase the opportunities across the Midlands to investors.

“The government is firmly committed to the Midlands Engine and will continue to work with the people of the Midlands to deliver this vision,” the strategy added.

Chancellor Philip Hammond said: “The Midlands Engine Strategy is an important milestone, setting out the concrete actions we are taking, where we are not only investing in what it does well but also tackling some of the long standing productivity barriers in the region including skills and connectivity.

“The Midlands has enormous economic potential and as we lay the foundations of a stronger, fairer Britain outside the EU it is more important than ever that we now build on its existing strengths to make sure it fulfils it.

“It is a vital part of the government’s work to create an economy that works for everyone, and all parts of the country.”

Sir John Peace, Midlands Engine Partnership chairman, added: “All parts of the Midlands already do a great job energising growth, creating jobs, investing in infrastructure, helping people to acquire valuable skills, and promoting their particular assets to attract investment and visitors.

“This strategy represents a clear footprint for the Midlands Engine empowering us to think bigger, and work even closer together, across local economies and on a scale that makes sense in global markets.

“Later this year, we will respond to the government’s strategy by publishing an ambitious vision and action plan so we, together with government, succeed in unlocking the Midlands’ great potential.”

To view the strategy, click here.