FSB calls for greater efforts to rebalance UK economy

A series of policy events are being organised by the FSB in the North of England to find out what northern businesses need to grow and increase productivity - steps which are key to boosting the region’s economic potential.

Lord O’Neill, Commercial Secretary to the Treasury, whose portfolio includes driving forward plans on the Northern Powerhouse, said: “Building the Northern Powerhouse is vital to the Government’s plans to rebalance the economy and end the decades-old gap between the north and south.

“Businesses are at the heart of this work and that’s why we’re investing in infrastructure, science and skills across the north as well as devolving powers to local leaders.

“Small businesses are the lifeblood of the northern economy and I am very pleased the FSB is taking such a proactive role in making sure they are at the heart of the debate.”

John Allan, national chairman for the FSB, said: “As the Northern Powerhouse concept takes shape, the FSB wants to make sure small businesses in the North of England are at the heart of the debate and given the support and backing they need by local and national government to grow and invest.”

The FSB is holding a roundtable event in Greater Manchester today titled, ‘The Northern Powerhouse: how do we help small businesses fulfil their potential?’ Another roundtable will be held in the North East in September.

Mike Cherry, policy director for the FSB, added: “The North-South divide has long been a stumbling block for the UK economy, and so we strongly welcome the Government’s focus on building a Northern Powerhouse.

“Realising this vision will require increased investment and infrastructure spending in the North of England to boost regional growth, nurture a thriving business sector and get much needed transport connection improvements back on track.”

The FSB wants to see upgrades to the road network, more details on HS3, a universal obligation for broadband and improved access to finance.