‘In a bid to protect the East Midlands and its businesses


through Brexit and beyond, we have set five challenges for


Government for the coming year’


Whichever side of the EU fence you sit, nobody can doubt that the 2018/19 financial year is going to be momentous for Britain. If the will of the people is made manifest, this will be the year that the UK leaves the EU. It may be that we’ll continue to enjoy some of the benefits and drawbacks of membership for a while longer, but we won’t have a seat at the top table and we won’t be involved in any of the decision-making. Leaving the EU will have a huge impact on the UK. In some areas it has already been felt. The weakness in the value of the pound in the weeks after the referendum still reverberates today. This is creating inflationary pressures at the moment, but it also created opportunities for sharp exporters who recognised the value of the ‘Made in Britain’ brand and exploited overseas markets at a time when UK-made goods suddenly had added value because they were much more competitive.


There will be fallout from leaving the EU, but there will also be opportunities at an unprecedented level.


And it is helping regional business to maximise those opportunities that the Chamber has already started focusing on. That is where our emphasis will lie through this financial year and beyond – starting with our manifesto for 2018 - Growing the East Midlands Together.


In a bid to protect the East Midlands and its businesses through Brexit and beyond, we


have set five challenges for Government for the coming year


Making sure that businesses don’t suffer as a consequence of Brexit is the biggest prize. Failing to listen to the creators of wealth could result in the UK becoming less competitive after leaving the EU. To that end, the Chamber is calling on


Government to:


1) Realise regional opportunities The Chamber has identified three main drivers of potential growth - HS2 and development of the station hub at Toton, East Midlands Airport and establishing a free-trade zone (FTZ) around it and creating a regional manufacturing zone.


2. Allow businesses to grow by reducing day-to-day costs and regulatory burdens The Chamber has identified five key areas under this heading where Government already has it within its gift to make life easier for firms.


They include avoiding knee-jerk reaction to populist demands, fixing the ‘broken’ business rates system, reducing the red tape burden businesses face, encouraging employment and ensuring the domestic workforce has the necessary skills.


3) Invest in regional infrastructure A recent study found that infrastructure investment in the East Midlands has been only 60% per capita of the national average.


The Chamber is calling for infrastructure investment across the region to be increased to 100% of the national per capita average by 2020.


4) Back international growth


The Government talks about driving exports, we would call on it to provide incentives to regional firms to encourage and incentivise exports of goods and services.


5) Create measures that boost competitiveness


In addition to backing exports, Government must recognise the strengths of the regions and make sure it takes appropriate steps to ensure centres of excellence are recognised and rewarded.


In Derby, for example, we have the single largest cluster of rail-related industries in Europe, possibly in the world. We also have one of the strongest gaming sectors in the UK and global leaders in advanced technologies.


The Chamber stands strong and ready to work with Government and local authorities, sector groups and businesses themselves to ensure that the strengths of this region are not just maintained but are developed for the brave new world into which we are about to step.


Scott Knowles, Chief Executive


East Midlands Chamber Directory 2018 7


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