The North East COVID-19 Economic Response Group has published its Recovery and Renewal Deal for the North East, which outlines how a thriving post-pandemic economy could potentially be created.
The group is made up of the North of Tyne Combined Authority, North East Combined Authority, North East Local Enterprise Partnership (LEP) and CBI, with the support of industry, to ensure the North East has strong economic leadership that acts quickly and collaboratively to mitigate the impacts of COVID-19.
Its proposal reflects on COVID-19 as a catalyst for change and details how the North East is ready and prepared to harness this catalyst to reinvigorate the North East economy.
The document sets out how, with the necessary support from the government, the North East could maximise opportunities to reach a goal of rapidly creating 100,000 good quality and secure jobs.
In the Recovery and Renewal Deal for the North East, the Group is asking the government for £2.8bn to directly unlock half of required 100,000 additional jobs quickly. It also wants accelerated confirmation of existing business cases, including Transforming Cities funding; a commitment to joint working in areas where the North East can lead the national recovery, specifically low carbon energy; and flexibility within national programmes to allow for maximum leverage of local and national resources.
It is envisioned that this would keep people in jobs and training, support businesses and sectors to restart and recover, and support the transition of our communities and places as they adapt to living with COVID-19.
In the long-term, the deal sets out how our future economy can be built by maximising the potential of our existing assets and exploring new opportunities and by investing in digital and transport connectivity.
Opportunities identified in the document include a series of new projects to empower our rural and coastal areas and reinvigorate our town and city centres; achieving zero carbon emissions targets; utilising new digital construction and advanced manufacturing techniques; leading the national offshore wind revolution; and delivering the first digitally-connected Freeport for the UK.
The proposals give particular focus to jobs in the key areas of data ageing, low carbon, life sciences and pharma. This will help the transition to a stronger, higher-productivity and higher-wage economy, with people primed to adapt to challenges and new opportunities.
Mayor Jamie Driscoll, North of Tyne Combined Authority said: “The pandemic has hit people hard. Young people need jobs. Businesses need investment. Yet we have the potential to be world leaders in offshore energy, advanced manufacturing, and sustainable transport.
“Our Recovery and Renewal deal will create 100,000 well paid jobs. It supports more affordable homes and better health. It’s what our region needs, and I want central government to back our plan and back the North East.”
Lucy Winskell, Chair of the North East LEP, said: “The Recovery and Renewal Deal for the North East is an ambitious proposal that is designed to create a fair playing field for everyone.
“Through our Strategic Economic Plan, it was our goal to create 100,000 new and better jobs and we were doing well – with 68,000 more jobs in March 2020. But the impact of COVID-19 will reset that, which is why our Recovery and Renewal Deal is so important.
“We have presented a proposal that puts sustainability and decarbonisation at the core. The Recovery and Renewal Deal ensures communities continue to improve and provide a strong offer for people to live, work, study and visit.”
Sarah Glendinning, Regional Director for the CBI North East, said: “Now more than ever we need to be imaginative in our thinking, brave in our approach and robust in our delivery in order to recover and thrive.
“In the Recovery and Renewal Deal for the North East, we have suggested the way to a new North East. Now is the time to come together to think bigger, greener, more inclusively and with innovation to reimagine our economy.”
Councillor Iain Malcolm, Chair, North East Combined Authority, said: “It is vital that we have a strong plan in place to help our businesses and communities to recover from this unprecedented crisis.
“The Recovery and Renewal Deal for the North East builds on the work we are already doing with government and other partners nationally and regionally to unlock all available support and financial assistance and sets out a bold vision for future prosperity.”