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Sir James Crosby to lead drive for more northern investment
FORMER HBOS chief executive Sir James Crosby has been appointed to chair a new commission to support greater private sector investment in the North of England.
The announcement came today from Northern Way, the joint venture between the regional development agencies Yorkshire Forward, Northwest Regional Development Agency and One NorthEast.
Sir James, currently deputy chair of the Financial Services Authority, will lead the Northern Way Private Investment Commission, to identify the barriers to greater investment in the North, and to make recommendations to government and local authorities as well as the private sector itself.
Sir James said: "I believe the North of England has a great potential for economic growth and prosperity, despite a more difficult global economic climate.
"By addressing the barriers to substantially greater private investment flows - wherever they arise - we can ensure that the good economic performance of the North is sustained and reinforced.
"I welcome the opportunity to lead this review, and to benefit from the insights and expertise of individuals and organisations with a stake in the North's future."
Business Secretary John Hutton today welcomed Sir James's appointment.
He said: "The economic development of the North depends on a flourishing private investment sector to support regeneration and new business investment."
Northern Way said the commission would comprise "a small number of other high-profile and influential private sector individuals, who will identify opportunities to increase private sector investment on a transformational scale".
Northern Way chairman Neville Chamberlain said: "The economic development of the North will only be secured through sustained investment from the private sector.
"The work undertaken by Sir James and the Commission will help the North of England to compete for attention in the global market place."
Margaret Fay, chair of One NorthEast, said: "We need to secure more private investment to fund infrastructure and regeneration and to invest in growing businesses.
"The three northern Regional Development Agencies are already working together to develop this area, and we look forward to working closely with Sir James and the commission to ensure the North achieves the critical mass to attract significantly more private resources."
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Weather for Yorkshire
Saturday 11 February 2012
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Temperature: -2 C to 0 C
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