27 November 2020

A statement from our Chief Executive on the Comprehensive Spending Review 2020

“The Comprehensive Spending Review 2020 has set out the magnitude of the challenge we face to recover from the economic impact of COVID-19. We have estimated that the Coast to Capital region could lose up to 17% of Gross Value Added (GVA) during 2020.

 

2020 has now become a turning point for our region; a time when significant, focused, long-term investment can not only enable recovery, but drive new value and discovery. Our plan is to enable our economy to build back stronger, smarter, greener.  In this we have identified a series of investment ‘asks’ – transformational projects that will create economic growth in our region to recover from the economic and social effects of the COVID-19 pandemic.

 

We look forward to hearing more on the £4 billion ‘Levelling-up’ fund and working with partners on proposals for the region. Whilst Government’s levelling-up agenda may be focused on the North, we also have a strong case for investment in the South East. The region not only has a significant proportion of the country's high-tech, high-growth industries needed to help drive recovery but also a disproportionate number of businesses in the aviation, hospitality, destination and cultural sectors which have been most affected by COVID-19.

 

We are committed to working together with Government and partners to make a difference to people and places and ensuring that our region is a fantastic place to live, grow and succeed.”

Jonathan Sharrock, Chief Executive

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