A leading northern think tank has urged government and regional leaders to work more closely together to establish the North of England as a world‑class destination for investment, helping to boost productivity and raise living standards.
In a new briefing note, IPPR North argues that the Great North partnership, working collaboratively with government, could play a pivotal role in driving economic growth by improving investor confidence and coordinating large‑scale investment across the region.
The briefing highlights the importance of the North to the UK’s overall economic performance. According to IPPR North, closing just half of the productivity gap between the North and the rest of the UK could increase national output by around £30 billion a year.
The think tank says this underlines the need for a more ambitious, coordinated approach to economic development – one that operates at a pan‑northern scale and complements existing local and mayoral strategies.
IPPR North makes the case for stronger collaboration across the North, led by northern leaders but supported by central government, as a way to attract both public and private investment.
Representing an economy of 16 million people, larger than many European countries, the Great North partnership is seen as having the potential to act as a powerful advocate for the region, boosting its visibility and credibility with investors in the UK and internationally.
The think tank argues that speaking with a collective voice would strengthen the North’s ability to compete for investment and ensure major opportunities are not missed.
To support this ambition, IPPR North recommends that the Great North partnership and government work together to:
- Create a pan‑northern financial mechanism to share risk and reward across the region
- Establish a pan‑northern investment board to coordinate strategic decisions
- Develop a pipeline of investible propositions at a pan‑northern level, offering clarity and confidence to investors
These measures, the briefing suggests, would help unlock large‑scale investment, reduce fragmentation and enable the North to maximise the impact of public funding.
IPPR North’s Director, Zoë Billingham, said:
“A strong North stands together. The deepening and broadening of powers to mayors and strategic authorities gives them the opportunity to work more powerfully together. The Great North Partnership builds on years of collaboration through different institutions at the pan northern level and provides a renewed opportunity for collaboration. This must be in partnership with the public finance institutions, particularly the National Wealth Fund, which is set up to help drive regional prosperity”.
The think tank concludes that a collaborative, pan‑northern approach is critical if the North is to realise its full economic potential and play a greater role in the UK’s future prosperity.
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