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FRONT COVER Bristol unveiled as the first city in the UK outside of London to host a Social Media Week. Image courtesy of Dan Taylor.
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hat a tumultuous couple of months it’s been. Team GB took the Rio Olympics by storm, achieving a record number of medals
and Hinkley Point C, Europe’s biggest construction project has had a roller coaster ride. As insight goes to press we are still waiting for
the new prime minister to give the go ahead for work to start on Hinkley as the benefits of this £18bn project to our region are potentially enormous with an estimated 25,000 jobs and huge supply chain opportunities for local companies. In the medium term, I believe Hinkley will give the
South West the opportunity to develop a world class, exportable nuclear industry through the expertise developed in the design, construction and operating of this plant. Because for too long, I feel that the regions of
the UK have been somewhat forgotten, as London became too dominant, both politically and economically. Thankfully, and not before time, the political autonomy pendulum is swinging towards devolution - increasing power for regional communities - away from London. We’ve all heard of the so-called Northern Powerhouse but what about the South West Powerhouse? I am pleased to say we too are seeing local government following the devolution path
‘I believe Hinkley will give the South West the opportunity to develop a world class, exportable nuclear industry ’
and looking to appoint elected Metro Mayors. Though it gets on with its business quietly, I would say that the South West is already a powerhouse in its own right. Location is also a factor. Take Bristol for instance, soon to be just over an hour from
central London via a new electric train service. Boasting a vibrant regional airport and within an hour of Heathrow, it sits at the confluence of the M4 and M5 motorways - its sea port enabling 50 million of the UK’s population to be reached within a 2.5 hours drive. I also think that Brexit gives the South West region, with more than its fair share of
Britishness in its quality product range, a great opportunity to take advantage of a new global trade order. We have fantastic food, drink and clothing brands selling all over the world. For these reasons, and more that I comment on in page 14, I think that the South West
is well positioned to build on its powerhouse capabilities. We need the ambition and confidence to trade throughout the world and the control from local devolution to drive change for the better in our region.
PHIL SMITH MANAGING DIRECTOR OF BUSINESS WEST
SEPTEMBER/OCTOBER 2016 insight 3
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