North-East has the building blocks to become a powerhouse

The idea that the government will provide support for a combination of northern cities, as the chancellor announced, “to take on the world” has received support from the Chinese who will become partners in several investment drives.

Each region in the north has its own fierce identity and heritage. The attempt to implement the ‘combined authority’ in the North-East, as recommended in the Adonis report, is still on going and getting all cities involved to work together will be no easy task.

To aid the North’s self-determination, the government has insisted that devolution take place in each region. This question was the subject of a referendum for the North-East in 2004 which concluded that the region did not want more devolved powers. Things seem to have come a long way since then and we must embrace partnering with other regions.

It is more important than ever for joined up thinking when it comes to economic policy. Re-balancing the regional distribution of economic prosperity is no easy task and there is no ‘one size fits all’ approach. The global economy is more connected than ever. The impact the slowdown in Chinese growth has had on global stock markets is one recent example of this.

The North-East has the building blocks in which it can make the Northern Powerhouse work. Our leading stance as an exporter which consistently produces a trade surplus of £3 billion, an innovator offering five world class universities and a pioneer of world class technologies demonstrated by our commitment to green energy through wind turbines and electric vehicle technology supports this.

Currently the Northern Powerhouse is merely an idea. To make this idea a reality the cities of the North will have to come together to stand up to London and promote themselves as the heart of economic growth in the UK.

Ultimately, the ability to work together will make or break the idea of re-building the North into the engine of growth that it once was. We just need to exploit the existing potential and drive ambition.

Combining political ideals, competing businesses and different ways of thinking won’t be easy. However, this may be our best chance to keep up with London and the South-East. We will all have to work together, as a region, to create the next generation of workers that will be needed to put the North in a position to rival the South-East. Even if our own local leaders can agree on a way forward, only by working together, addressing our shortcomings and capitalising upon our strengths will we build the foundation to make the northern region a player in taking the country forward.