Why we need big, bold ideas in the coming year

Business West MD Phil Smith looks ahead to 2024

WHAT does business want from the Government in 2024?

In some respects, I think it’s the same as they always want, and that is certainty and stability with infrastructure that actually works. Business needs to feel that Government has a clear plan that will help them grow and not hinder them with too much bureaucracy and regulation.

What does that mean?

It’s about transport systems that can be relied upon to get staff into work and allow a company to get their goods out to customers. They also want council planning departments that work for them far more quickly and an electricity power grid that can cope with their growth. If Government gets these basics right, most companies would be happy for them to then back out - but that level of satisfaction is just not happening enough to make a difference for many. On infrastructure and how we finance it,

I believe there could be investment opportunities for the UK with countries like Australia and Canada through billions of superannuation pension monies.

Here in the South West, we are often critical that this region is not being centre stage in terms of shouting about our great businesses. And why isn’t our region rarely mentioned in parliament like the Northern Powerhouse and the Midland Engine?

Well, I think we do make the mistake of holding out a begging bowl and wanting Whitehall and Westminster to recognise us. So, in order to get real recognition from Government we do need to start acting like we are a powerhouse rather than just wanting it conferred on us. We certainly don’t deserve to be regarded as a powerhouse unless we really have something to add value to our regional economy. What we need to have is big, bold ideas in 2024.