Chris Hearld, chairman for KPMG in the North, comments on the summer budget 2015.
“Once again we have seen the Northern Powerhouse being a key plank to the Chancellor’s Budget announcement. We have always maintained that for the Northern Powerhouse to succeed, all parts of the region need to be brought on board, so it was encouraging to hear that following the lead set by Manchester, devolution deals are in the pipeline for the likes of Leeds, Liverpool and Sheffield.
“However, it was incredibly disappointing that no further announcements were made regarding investments in our regional transport infrastructure. While the introduction of an Oyster card system across the North is a nice gesture in principle, it will do absolutely nothing to alleviate the lack of capacity and very little to improve the connectivity on our region’s ever-crumbling rail network.
“Businesses across the North are becoming increasingly impatient, and are chomping at the bit to play their part. But their role must be underpinned by dramatic improvements to the transport infrastructure across the region to ensure our businesses, people and resources are better connected. Without this, the Northern Powerhouse will not take off.”
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Katy Broomhead, Senior Manager, KPMG Press Office
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.