BUSINESS NEWS
‘Brummie bonds’ a welcome idea
E
xploratory plans for a West Midlands sovereign wealth fund and ‘Brummie bonds’ to
pay for new homes in Birmingham have been welcomed by business
leaders. Greater Birmingham Chambers of
Commerce says the proposals by new Birmingham City Council leader John Clancy to invest the public sector pension pot in new houses and infrastructure could tap into a ‘potentially great untapped asset.’ Chambers director of policy
Henrietta Brealey said: “Birmingham City Council, like many local authorities, is facing an extremely challenging funding environment. Exploring innovative ways of raising the funds to continue to invest in affordable homes and communities is thoroughly sensible.” Cllr Clancy has said he wants to
use the £11 billion West Midlands local government pension fund, the third largest local authority fund in the UK, to invest in Birmingham and the surrounding region. Cllr Clancy told the Financial
Times: “I want to anchor those funds
better into the region by investing that wealth in the region.
‘Local authority pension funds are a potentially great untapped asset’
“If Government is allowing us to do asset sales to move into revenue, surely it is better to sweat the assets, or to use securitisation of the assets and better utilisation to promote revenue generation. That’s a much better way to go.” Cllr Clancy, who has also raised
the prospect of selling ‘Brummie Bonds’ to fund projects, has already discussed his proposals with Greg Clark, Communities and Local Government Minister. Ms Brealey added: “Local
authority pension funds are, for the most part, a potentially great untapped asset. Naturally, there would need to be stringent checks in place to ensure pension fund members are not disadvantaged or unnecessary risks taken.”
Birmingham Firm MHD Bring New Jewels to Hockley Base.
M
erlin Heating Distributors Ltd. (MHD) have launched their new jewelled tapware range in the UK. The exclusive tapware is bejewelled with
certified Swarovski Crystals. A jewel in the crown and another exciting additionon to the world renowned Jewellery Quarter.
This exciting range is for the first time in the UK and is introduced as part of their Boutique Collection.“It’s fitting that we brought this product to Birmingham and located it in the Jewellery Quarter”, stated Rob Frain, a senior director at the Firm. It is a fantastic addition to our complete design collection of radiators and shower enclosures. We have product for every taste and budget. MHD identified Birmingham as an ideal location for us to do business, with excellent travel connections by road, rail and air. MHD’ European strategic partners also agree and point to the close proximity of the NEC as a major positive in deciding location.
Recently In UK Construction Week & Grand Designs, MHD hosted AFG Group on their stand in the NEC. with very positive results and interest from designers countrywide. “We are delighted to be involved with Birmingham Chamber and look forward to better collaboration with local businesses across Birmingham and beyond”.
MHD operate across nine locations in the UK and Ireland with their Head Office based in Birmingham’ Jewellery Quarter.
Ph: 0121 5155901
www.merlinhd.com
10 CHAMBERLINK MARCH 2016
Wakey wakey: Chamber personnel Linda Hollis (left) and Sandra Cunningham help Russell get ready for the big sleep-out
Get ready to sleep rough
Business and civic leaders from across Birmingham will sleep outdoors at Villa Park to raise funds for projects tackling homelessness across the city. The sponsored sleepout, taking place on 17 March, is led by Aston
Villa Foundation, working with Church Urban Fund, Thrive Together Birmingham, Dains Accountants and other leading local businesses. Russell Jeans, Chamber director of membership and business
services, who is taking part in the sleepout, said: “Supporting such an event through fund-rasing can help to transform the lives of many people who are currently living on the streets of our city. We’re looking for more people from businesses to sign up and get sponsored.” You can pledge your support to Russell by logging on to
https://bsvp.everydayhero.com/uk/russelljeans
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