Support the North

Powerhouse is key to the region

DAVID CAMERON and George Osborne certainly had their faults, but they did at least recognise the importance of the North in rebalancing a national economy that has become over-reliant on London’s wealth.

When the former Chancellor outlined his vision for building a “Northern Powerhouse” in 2014, he talked enthusiastically about creating an economic success story to rival that of the capital.

Sadly, Theresa May does not appear to share his optimism. For while Mr Osborne and Mr Cameron were key figures in driving the Northern Powerhouse agenda forward, the attitude of Mrs May’s Government appears lukewarm, at best.

Yet if the North is to fulfil its potential then its creaking infrastructure needs a radical overhaul – a point this newspaper has repeatedly made. It is one reiterated by Lord O’Neill who has questioned the Government’s commitment to the North and called on the Prime Minister to ensure that Transport for the North (TfN) has the same powers as its London equivalent.

The Government is already talking up the prospect of a second Crossrail scheme in London at a time when its commitment to the Northern Powerhouse is far from assured. As one of the architects of the Northern Powerhouse, Jim O’Neill has long been a champion of this region and as a former banker and Treasury Minister he knows, too, that a firm commitment to the Northern Powerhouse from the Prime Minister would send out a powerful message to investors around the world that the North is very much open for business.