How Rishi Sunak can help Yorkshire recover from the pandemic - Roger Marsh

The plan we presented pinpoints how and why West Yorkshire can provide an economic blueprint for national recovery, placing this region firmly at the heart of the UK’s vision to come back stronger from Covid-19.

It has struck a chord across the region, making front-page news and attracting support, and we are making a plea to the Government to back that plan with powers and funding.

The impact of Covid-19 on West Yorkshire has been severe, and without taking bold measures for the future, the cost of inaction will weigh heavy on our people and economy. Analysis conducted for the West Yorkshire Combined Authority shows that under a worst-case scenario, the pandemic could lead to 58,000 job losses in the next year, see our unemployment rate rising to 14 per cent, and wipe £12bn off the value of our economy.

This would mean the West Yorkshire economy, which has shown an enviable track record in creating jobs, growth and spreading prosperity over the past decade, would be nearly a quarter smaller – taking it back to the size it was before the year 2000.

But it is clear to us all as leaders: this can’t be allowed to happen. The Combined Authority, LEP and our partners across the region have worked hard to support businesses through the peak of the pandemic with financial support, information and tailored, expert advice. In effect, we have mounted a rescue operation to save and safeguard as much of the region’s economy as we can.

Now our attention is turning to the next phases of the recovery, as we are forced to reimagine and reinvent to be in the right shape for the changing world.

In our submission to Government, we set out a targeted approach to four distinctive investment propositions, totalling £750m that don’t only address the specific needs of the West Yorkshire economy and its people, but fuel and supercharge the region’s biggest areas of potential to make a major contribution to the national recovery.

They build on our region’s world-leading position in health innovation, maximise our capabilities as the UK’s fastest-growing centre for digital, have the potential to create up to 70,000 jobs and opportunities by becoming a net zero carbon economy by 2038, and nurture our talent to reap the benefits of an entrepreneurial revolution.

These propositions have been developed by the West Yorkshire Economic Recovery Board, which has been convened by the Combined Authority to bring together civic, business, trade union, health and third sector leaders.

The £750m investment package outlined in the letter to the Chancellor is part of a £1.4bn long-term plan of action to offer immediate support to the West Yorkshire economy, develop potential with skills and retraining, as well as support for growth industries and future opportunities, and developing our long-term economic resilience.

It is focused on supporting jobs for people in resilient businesses, on helping people get the skills they need to get jobs, and on the infrastructure people need to access opportunities. This wider work contributes to a plan to increase our region’s productivity in line with the UK average – which if done well will add £8.5bn to the UK economy.

I believe strongly that Leeds City Region is uniquely qualified to progress policy objectives that will benefit the entire national economy.

It is with great pride that I have been appointed to a key panel, alongside business leaders, economists and other experts, advising the Government as it seeks to establish new free trade agreements around the world.

The investment trade advisory group, one of eleven on key sectors for the UK economy, set up by the Department for International Trade, is focused on maintaining the UK’s attractiveness for inward investment from overseas.

Roger Marsh is Chair of the Leeds City Region LEP