Aid for construction ‘can help to boost growth in Yorkshire’

The committee, a partnership between the Yorkshire Post and law firm Lupton Fawcett Lee & Priestley, heard the views of a range of business leaders from across the region.

The call for support for construction came from Yorkshire businessman David Bagley, who said there was a need for such projects as schools and that the current economic climate made investment in this area viable.

Mr Bagley, who holds a number of non-executive directorships, said: “The Government could and should be prepared to borrow to support construction projects. Construction is a very large employer and has a strong knock-on effect for other ancillary parts of the market. I think it would particularly benefit this part of the country.”

Bill Adams from the Yorkshire TUC backed the call for lending to support the sector, saying: “We can hang our hats on this triple A rating and disappear down the sink along with Southern Europe.”

Much of the meeting focused upon the recurring issues of lack of confidence, funding for SMEs, and members voted unanimously for a hold in both interest rates and quantitative easing. Chairman Jonathan Oxley, Partner at Lupton Fawcett Lee & Priestley, opened the discussion by setting the economic scene of “stability in a number of areas, verging on stagnation”.

Mr Adams said: “I would like to see much more intervention in terms of stimulating the economy in the region. I think we need some big projects to kickstart the economy.”