Comment on Theresa May stating that the North will receive £556 million to boost businesses and encourage growth.
Following confirmation earlier today by Prime Minister Theresa May that the North will receive £556 million to boost businesses and encourage growth, Chris Hearld, chairman of KPMG in the North, said:
“Today’s announcement from Theresa May puts further meat on the bones as to how the £556 million already pledged to the Northern Powerhouse as part of the Government’s growth deals programme will be allocated.
“The proposed funding for the Goole Intermodal Terminal is a welcome, albeit small step towards improving the connectivity of the North’s transport infrastructure, while the capital pledged for Manchester and Cheshire will help unlock innovation amongst our fledging life sciences businesses. The creation of over 5,000 jobs in Sunderland and South Tyneside via the building of the new International Advanced Manufacturing Park will also cement the North East’s position as one of the country’s most important manufacturing and exporting hubs.
“More broadly, the Prime Minister’s blue-print for the country’s industrial strategy offers some welcome clarity of the national picture as our region continues to play its part in addressing the productivity puzzle that grips the UK. It is particularly heartening to see that the first three of the ten pillars that make up the new strategy are innovation, skills and infrastructure – all elements that we see as being key to the growth of the north and an overall rebalancing of the UK economy.”
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 13,500 partners and staff. The UK firm recorded a revenue of £2.07 billion in the year ended 30 September 2016. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 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.