POLITICS
complete review and a couple are keen to go ahead with the biggest investment in British railways since the Victorian era. Forget the ‘High Speed’ tag – HS2 is about
creating more capacity on our railways. Moving passengers on to dedicated routes will mean more room on the older network for freight, which should mean fewer lorries on the road and a resulting cut in congestion. But HS2 means much more to the East Midlands than more seats on trains and more freight movements – it will be a trigger for massive regional investment. The HS2 Station Hub planned for Toton,
Whether Boris Johnson or Jeremy Hunt, the new PM will face a number of pressing challenges
‘For three years, our politicians have appeared blinkered by Brexit, but there are other big issues that need to be addressed if we are to remain competitive on the global stage’
Chris Hobson, the Chamber’s Director of Policy
As things stand, we leave the EU on 31
October, potentially without a deal, possibly with Parliament prorogued (the official term for ‘suspended without being dissolved’) to prevent a no-deal Brexit being blocked. Parliament has not been prorogued as a means
of circumventing opposition since 1948, although it was something Queen Victoria did with what might be seen today as alarming alacrity. Across the Channel, the current EU leadership
has said it doesn’t want a divided and divisive Britain – with the Brexit Party leading the anti- EU lobby from within its ranks – creating havoc and trying to renegotiate deals with what will be a new administration after Halloween. So, with little or no room to manoeuvre, a
Brexiteer PM is likely to lead us out with no deal while a Remainer will strive to take Brexit off the table or try to persuade the EU to grant us another extension.
Either of the first two options would at least
give businesses a little more clarity over the path ahead. A further extension would amount to just more of the same ‘kicking the can down the road’ and, potentially, another General Election. That’s possibly the worst possible outcome from a business point of view. In reality, the new Prime Minister will have just
seven weeks of MP working time - once you take into account the summer recess and party conferences – to achieve what Mrs May failed to do in three years. But they’ll also want to write their own name
in the history books and they’ll have some big targets to aim at – most of which, like Brexit, will have an impact on East Midlands businesses. The second big target is HS2, which we
explored in detail in last month’s politics pages. A quick recap – some of the candidates for the ‘big chair’ want to scrap HS2, one wants a
together with the area around East Midlands Airport and the soon-to-be-decommissioned Ratcliffe-on-Soar power station, offer a golden opportunity together to significantly boost the local economy. It will also improve east-west connectivity
through and beyond the region, including new transport links between Derby and Nottingham via the airport and Toton. Committing to HS2 Phase 2b could contribute
to moving two manifesto pledges from red towards amber – creating a strong economy that works for everyone and creating a strong and united nation in a changing world. Whatever happens with Brexit, it is crucial
that, to achieve those two goals, the new Government has to make sure the rest of the world knows that Great Britain remains open for business. Having the confidence to invest in serious infrastructure projects is one way of delivering that message. But there are other urgent fixes needed to
make the UK attractive for inward investment. They include closing the skills gap between
what academia offers and employers need, changing the ‘broken’ business rates system, making sure there are no high-speed internet or mobile telephony black spots, cutting congestion on our roads and making sure Britain is recognised as a world-leader in advanced and green technologies. Chris Hobson, the Chamber’s Director of
Policy, said: “For three years, our politicians have appeared blinkered by Brexit, but there are other big issues that need to be addressed if we are to remain competitive on the global stage. “We need to have all our ducks in a row if we
are to continue to attract inward investment. That means making sure we don’t discourage overseas companies from setting up shop here through a lack of infrastructure investment, over taxation, over regulation or continuing with a system where the upfront costs of establishing a business are prohibitive.”
business network July/August 2019 53
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