28.02.20
The Western Gateway to deliver £56bn to UK economy by 2030
A new partnership between eight cities across south Wales and west England has launched a new website and prospectus setting out a vision to boost local economies.
The Western Gateway, originally launched by Cabinet Ministers in November 2019 is the third powerhouse in the UK after the Northern Powerhouse and the Midlands Engine and is set to deliver more than £56bn to the UK economy by 2030.
With an exciting economy of £107bn, home to 159,650 businesses and 2.1 million jobs, it boasts an economic performance ahead of the UK average excluding London and has key growth opportunities in clean energy and low carbon and the health and life sciences industry.
Chair of the Western Gateway, Katherine Bennett CBE said in the prospectus foreword:
“Working together across borders we offer a unique proposition to UK plc: to propel transformative, inclusive and greener growth as part of building a new future for the British economy.
"Whilst we are an economic high performer, we are also a region of contrasts, with significant pockets of deprivation, low skills and low pay in some of our cities and rural areas.
“Through harnessing the Western Gateway’s innovation and geographical assets we can make a huge difference to people’s lives. We can release the untapped potential of our cities, towns and villages, and provide real amplification and additionality to existing projects, infrastructure and industrial strategies.
"Delivering this vision will add more than £56bn to the UK economy by 2030, helping us lead the UK’s transition to a net zero future.”
Three ambitions set out in the prospectus, “Propelling a greener, fairer, stronger Britain”, are Connectivity – working on housing growth and transitioning into net zero, Global Gateway – becoming a gateway to global markets through export and investment and Innovation – sparking collaborate and innovation in high-tech sectors.
Included in the partnership are eight key cities and three city regions, towns and countryside; Swansea, Cardiff, Newport, Bristol, Bath, Weston-super-Mare, Salisbury, Swindon, Gloucester and Cheltenham.