Powerhouse 2050: The North’s Route map for Productivity

Powerhouse 2050: The North’s Route map for Productivity

An investment of more than £3bn from the UK government could lead to the creation of 850,000 jobs in the Northern Powerhouse, the ‘Powerhouse 2050: the North’s Route map for Productivity’ report has claimed.

Following the release of the 2050 report, Theresa May stated that she is “absolutely committed” to the Northern Powerhouse and its goals of rebalancing the economy.

Powering Leeds with hydrogen, investing over £1bn in portable nuclear reactors and leading the way on the Internet of Things, are just three ways the North can become £100bn more productive, according to the report’s authors.

The report sets out fully costed, evidence-based proposals for four sectors where the North could, with government funding and business support, rival the best countries and regions in the world.

Months of research, workshops and engagement with over 500 businesses, universities and interest groups by the Northern Powerhouse Partnership (NPP), revealed the actions that needed to be taken to make the North’s prime capabilities – Advanced Manufacturing & Materials, Energy, Digital and Health Innovation – world-class.

These actions include:                                         

• £2bn investment to replace the entire gas network of Leeds with hydrogen, produced in the Tees Valley, which would contribute to the UK’s 2050 and Paris Agreement commitments on reducing carbon emissions.
• A further £60m needs to be allocated for the North to be the first region in the UK to commit fully to Industrial Digitisation – how UK manufacturing can increase its use of digital technology, such as the Internet of Things, and automation to become more productive and competitive.
• £100m to reinforce the North as the UK leader in health data by investing in Connected Health Cities harnessing patient data to diagnose, treat and deliver services more effectively and efficiently across the region, as well as further improving clinical trials.
• £1bn to creating a new Northern industry in small nuclear reactors, capable of being manufactured at a plant and brought to a site to be built and allowing for better nuclear material security.

Although the report emphasises the importance of government funding, much of it as part of the Industrial Strategy Fund, it is also clear that there is a requirement for businesses to invest and support these and many other initiatives.

That support is already happening, with one bank committing £2.2bn to lend to SMEs in 2017 alone. The workshops across the North were also led by senior leaders from some of the North’s biggest employers, listening to views from a wide range of organisations.

Vital to the success of the report’s bold and original initiatives will also be having access to the people with the right skills, at the right time to implement its aspirations.

Here at Elevation Recruitment Group, we have a specialist Engineering and Manufacturing division that specialises in identifying and developing top talent within the engineering and manufacturing sectors and we welcome the opportunity to source and supply the highly skilled individuals that will help to fuel the ambitions of the Northern Powerhouse.

If you are currently looking to appoint, or are looking for the perfect role and wish to discuss how Elevation Recruitment Group can assist your search, please contact us today.