Why strategic public transport investments must be a priority for North of England - Euan West

Over the last few months, the future of the flagship Levelling-Up policy had looked shaky. But it’s been given a shot in the arm in the latest Budget delivered by Jeremy Hunt.
By Euan West
Published 10th Apr 2023, 08:36 BST

In a challenging Spring Budget, dictated by market nerves and a cash-strapped Treasury, the Chancellor had little room for big spending on infrastructure – a key pillar of delivering economic growth to the regions. But a renewed focus on devolution represented a step in the right direction for Levelling-Up, and for putting our regions at the heart of the UK’s growth plans. Levelling-Up lives on. But as ever, the North will be waiting on material progress to be made. So, how is it immediately shaping change in Yorkshire, and what more needs to be done? Further devolution and local empowerment can unlock regional prosperity.

Having worked with local partners on major projects across the UK, we know that decisions taken in the places they impact, by people who understand the area they represent, are likely to have better outcomes.

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Building capacity in the regions to deliver these extra responsibilities will be key. The prospect of investment zones and Levelling-Up partnerships in Yorkshire could help drive growth through targeted funding where it’s needed most, further developing the industries that underpin our region’s success, such as renewable energy and the creative industries. These partnerships will of course take time to pitch, secure and deliver on any proposals, but I know that the ambition and hunger from enterprise is there to help get these off the ground.

Euan West, Office Senior Partner at KPMG in Leeds,Euan West, Office Senior Partner at KPMG in Leeds,
Euan West, Office Senior Partner at KPMG in Leeds,

Yorkshire will be given the freedom and support to focus on its own industrial specialisms in this way, and to identify and exploit its economic advantages. This will ensure our wealth of unique industry clusters complement – rather than compete with – each other, and make Yorkshire a more attractive place to invest. Empowering local decision making is critical for success. And efforts to hand power down should be welcomed. But the ultimate goal of attracting investment relies on another crucial factor: infrastructure. It is easier to get from Leeds, Manchester, and Birmingham to London than it is to one of the others. Poor regional connectivity is a drag on the effectiveness of cities like Leeds, Bradford or Sheffield to operate as regional hubs.

Speeding up journey times and improving reliability through strategic public transport investments, particularly in the North, should be a priority. Critics argue, dither and delay over projects like HS2, and ambiguity over the future of Northern Powerhouse Rail risk making Yorkshire towns and cities less attractive internationally for investment.

Meanwhile, Leeds remains one of the few cities competing at an international level without a sophisticated mass-transit system. Indeed, a tight public purse and continued inflationary pressures make such projects relatively unpalatable for the Treasury in the current climate. But a long-term transport strategy with real commitment is needed to seal investor confidence in the region, and to help our ambitious world-leading sectors to reach their full potential. As cautious optimism in the economy grows, and as we edge closer to an election year, we should expect to see Levelling-Up shift up the gears. It provides fertile ground for local and national representatives to deliver on what the regions have been promised for many years.

Euan West, is the office senior partner for Leeds at KPMG UK

Related topics:YorkshireEnglandBudgetNorthLeeds