Within our countries and regions lies a formidable combination of heritage and expertise – and above all - opportunity. Power Up: UK-Wide Growth has taken the overall topic of productivity to help identify where we can maximise on those opportunities by learning from the past, and then combines this with the very real experiences and views of the present.
Power Up: UK-Wide Growth is the latest report in our Power Up series. In this report we look at how harnessing productivity through skills could hold the key to regional growth. We have consulted more than 50 business leaders, educators, local government officials and other influential figures in Scotland, Wales, Northern Ireland and the eight English regions outside London to assess how this potential could be unlocked.
- The need for investment in digital and infrastructure: The overwhelming sentiment from the business leaders was the need for investment, particularly in infrastructure and skills. Digital infrastructure was cited as essential for future growth.
- Upskilling the workforce: Skills is at the heart of this report and from an economics point of view, regions have seen remarkable success in generating work. It is imperative the UK anticipates what skills it will need in 10-15 years.
- The principle of devolution and the need to plan and execute place-based strategies: Regional businesses need a devolution framework and for deals to work effectively. Planning and executing place-based strategies and working with metro mayors in our city regions is key.
- More collaboration between business, academia and government: Building on the foundations mentioned, combined with continuing collaboration between policymakers and business leaders will help ensure that we can work towards creating a healthy and balanced UK economy.