CHAMBER NEWS


HS2 Phase 2b critical to business confidence, says Chamber director


Investing in key infrastructure projects like HS2 are crucial to rebuilding the confidence of investors in the post-Covid world, an East Midlands business leader has claimed. Chris Hobson (pictured), director


of policy and external affairs at the Chamber, warned the Government that failure to back the Eastern Leg of the high-speed rail line would affect sentiment in the region – with tangible knock-on impacts that would stifle job creation and economic growth. He was speaking at the Levelling


Up webinar hosted by transport body Midlands Connect last month, shortly after it was announced that Phase 2a – connecting the West Midlands to Crewe – had been given royal assent in Parliament. The future of HS2 Phase 2b –


which will connect Birmingham and Leeds via a new East Midlands station in Toton and Sheffield – is uncertain after the National Infrastructure Commission recommended a scaled-back version of this line to stop at East Midlands Parkway station. Asked by The Sunday Times’


deputy political editor Caroline Wheeler what impact transport investment had on private sector confidence, Chris said: “It has a


massive impact and I’d turn it the other way around to say that a lack of investment knocks confidence. “It’s fantastic news that HS2


Phase 2a has been granted royal assent but there’s still uncertainty in the East Midlands about what’s going to happen to Phase 2b. “That has a knock-on impact on


confidence. When I speak to particularly our larger members, when they assess their asset plans in their various estates, they’re looking over decades rather than years.


‘Having a plan for infrastructure investment and seeing it take place gives confidence and makes businesses already here want to grow and invest’


“They want to know what the future holds and it’s really important the Government and policymakers don’t underestimate the impact of continually putting off decisions or making firm commitments to projects like this.” Chris also highlighted the


importance of the connections that businesses, whether they trade


locally or internationally, have to physical locations. “They feel a commitment to the


place they’re situated,” he said. “When I talk to members, they’ll talk about being a ‘Mansfield business’ or a ‘Market Harborough business’ – they feel real affinity to where they are as they’re often run by local people and employ people in their communities. “So they want to buy into an


exciting vision of what the future looks like for their business, families and communities they serve. Actually having a plan for infrastructure investment and seeing it take place gives confidence and makes businesses already here want to grow and invest. For those companies that are looking to move out of London or the South East – or potentially bring supply chains closer to home


– they want to be excited about where they’re doing that so there’s a massive link between transport investment and confidence. “And while confidence doesn’t


feel tangible, the impacts of it very much are so it’s very important to see that investment going forward.” Chris also spoke about a lack of


quality work spaces hampering the influx of inward investment enquiries received by Derby, Leicester and Nottingham during the pandemic as more companies look to leave London, as well as the importance of embracing the region’s thriving advanced logistics sector. Other panellists at the Midlands


Connect Levelling Up webinar were Jane Stevenson MP, former Bassetlaw MP Lord John Mann and Lord Ravensdale, co-chair of the Midlands Engine All-Party Parliamentary Group.


The discussion was part of a Midlands Connect webinar series that aimed to help shape the future of transport in the region, bringing together some of the biggest thinkers in the fields of “Building Back Better”, levelling up and decarbonisation. The regional transport body will use the debates to inform its refreshed strategy that will be submitted to the Government.


To get involved with the strategy refresh, visit www.midlandsconnect.uk


True value of MedTech contribution revealed


The MedTech sector contributes an estimated £1.6bn annually to the Midlands, according to a new report. With about 1,000 companies, the region has the largest number of


medical technology businesses in the UK, while the sector’s workforce of 23,600 makes it the second-largest employer for the Midlands. The Midlands MedTech Sector Analysis, commissioned by MI Health and


supported by the Midlands Engine, produced the findings when it was published last month. It reported a 15% rise in MedTech employment in the East Midlands


between 2009 and 2017, in contrast to a 12% fall in the West Midlands – although the sector’s footprint was now split almost equally between East and West. The two major hubs of businesses were located around Nottingham and Birmingham, with further clusters located in Loughborough, Leicester, Derby, Coventry and Stoke. About 75% businesses were engaged in some form of collaboration. Key regional specialisms included assistive technology, hospital


hardware, single-use technologies and infection control. Productivity is hindered, though, by a fragmented supply chain resulting


from the geographical dispersal of businesses. The report suggested priorities for support highlighted by businesses included access to finance, clinical partnerships and trials, skills, facilities for product development and research expertise.


business networkMarch 2021 41


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