Richard Parker, Mayor of the West Midlands, has appointed leading economist Bridget Rosewell CBE to provide independent advice on aligning the region’s capital investments with his recently launched Growth Plan.
Rosewell’s work will focus on the region’s £2.4bn Transport for City Regions funding and wider investment programme - ensuring that each project delivers the biggest economic benefits and unlocks private investment.
The project forms part of the Mayor’s West Midlands Growth Plan - which was launched by Parker in July. In outlining his plans the Mayor said it would “deliver jobs, growth and homes - alongside better transport for local people”.
Bridget Rosewell is one of the UK’s most respected economists, having served on the National Infrastructure Commission and advised on major projects including HS1, HS2 and the Elizabeth Line.
She will now work with the Mayor and West Midlands Leaders to identify and drive forward new opportunities for infrastructure-led growth and get the best value for money from its investment programme.
The rapid review has already begun and is expected to report to the WMCA Board before the end of the year.
Richard Parker, Mayor of the West Midlands, said: “This is about making every pound work harder for the people of the West Midlands.
“We’ve secured billions for transport and infrastructure, but we need to stretch that funding as far as possible. And we need it to have the biggest impact for our residents and the economy.
“We can make that £2.4bn go further if we explore creative ways to quickly deliver infrastructure and mechanisms like tax incremental finance. That would mean we use the initial fund to catalyse billions more and crowd in private investment behind public funds.
“Bridget brings the independent expertise we need to make sure our projects deliver jobs, growth and homes - alongside better transport for local people.”
The Rosewell Review will:
- Set out a prospectus of major investment opportunities across the West Midlands
- Review existing and planned projects to check they still meet local priorities
- Advise on how to best use the £2.4bn Transport for City Regions allocation
- Recommend new proposals for how projects are planned, financed and delivered
Ed Cox, Chief Executive (interim) of the West Midlands Combined Authority, said: “We want to draw on all of the expertise we can to maximise the economic and social benefits from our investments. Working with Bridget will bring that independent eye and best-in-class approach to ensuring our investments are delivering for the people of the West Midlands.
“Bridget's advice will help us build transport infrastructure that not only moves people, but also powers business expansion and housing development, to create a more prosperous future for all of our communities.”
Bridget Rosewell CBE said: “I am pleased to help bring together growth opportunities and regional investment programmes; this has been a matter close to my heart for some considerable time.
“Facilitating private investment and supporting appropriate public contributions to their best effect is very important to the future of the UK economy and I hope this Review will help.”
The Investment Prospectus produced by Rosewell will be showcased in front of the world’s largest investment funds at the Government’s Regional Investment Summit - to be held in the West Midlands in October.
The Summit will be hosted by the Mayor alongside Chancellor Rachel Reeves and Secretary of State for Business and Trade, Jonathan Reynolds.
The Transport for City Regions fund is for projects to be delivered over five years from 2027.
Image credit: West Midlands Combined Authority & iStock
