Chancellor Rishi Sunak says he will create 'economic campus' in the North

Richmond MP and Chancellor of the Exchequer Rishi Sunak has said he wants to create an 'economic campus' in the North as part of the Government's plans to 'level up' the country.

Rishi Sunak told Sophy Ridge he wants to create an economic campus in the North. Credit: PA

Speaking on Sophy Ridge on Sunday the newly-appointed Chancellor, who is set to deliver his first Budget on Wednesday, said he believes in making sure there are opportunities for people no matter where they live.

He said: “We believe in making sure that wherever you live in this country there is opportunity for you.

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"That’s what levelling up means in practice… I want to make sure that the Treasury is at the front foot of that, we are driving economic policy in this country and it’s important that we have a presence everywhere in this country so we will have a new economic campus in the north led by the Treasury where about a fifth of our headcount over time will move.

Rishi Sunak has pledged to create an 'economic campus' in the North. Credit: PA

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Asked if the Treasury could move to the North, he said: "Yes. Absolutely."

Mr Sunak also told Sophy Ridge that staff from other "economically facing departments" would also be expected to relocate to the North.

Labour said it had planned to move the Treasury to the North if it won the election, but this is the first time the Conservative Party has revealed similar plans. The Party has also recently floated the idea of relocating its partyy HQ to the North, but that suggestion is yet to come to fruition.

It is another vindication for the Power Up The North campaign, launched in June by The Yorkshire Post and a number of other newspapers across the north of the country, which calls for a fundamental shift in decision-making out of London and give devolved powers and self-determination to the people of this region.