The North needs funding for innovation as it holds the key to economic growth

Backing that over the years has been painfully lacking. The region has had warm words and broken promises but little when it comes to cold hard cash to fund the growth that is much needed not just for the benefit of the North but for the whole country.

The report from the Northern Powerhouse Partnership (NPP) is illustrative of this fact. It shows that targeted public and private research and development (R&D) investment into the North’s most promising sectors and clusters would help close the productivity gap with the South and unlock up to £206bn in additional economic output over the next decade.

The NPP is calling for a tilt in government innovation funding, urging it to back a new £6bn-a-year boost to northern innovation within its industrial strategy.

The sums involved could be a game-changer for the North and its economy.

Innovation will be at the heart of economic growth. Britain has been too slow when it comes to embracing change but clearly the potential is there, waiting to be leveraged.

People only need to look at the innovative clusters that have formed across Yorkshire. Whether that is advanced manufacturing across South Yorkshire, healthcare innovation in West Yorkshire or the increasingly exciting green technology that is being developed in East Yorkshire.

However, these sectors are underperforming when it comes to productivity because of a lack of support around adoption and scale.

Skills will be the currency going forward and if the Government is serious about tackling inequality then it needs to equip the region with the necessary funding to embrace the future.