Karl Edge, Midlands Regional Chairman at KPMG, comments on today’s Budget.
Karl Edge, Midlands Regional Chairman at KPMG, comments on today’s Budget announcements:
“The Midlands got a well-deserved piece of the pie in today’s Budget. A real boon for the region is the allocation of £250m for the West Midlands from the £1.7bn Transforming Cities Fund, alongside confirmation of a second devolution deal. You only have to venture out into our cities and towns to see rapid transformation taking place, so it’s encouraging to see that the Government recognises the region’s importance.
“With a rich automotive heritage and strong manufacturing background, the Midlands is well placed to lead on an automotive upturn in this Budget. I’m also pleased to see that provisions are being made for rail improvements in the Midlands, as congestion and capacity is still very much an issue, so I expect that this will add to the positive economic impact we expect HS2 to bring.
“The Chancellor seems to be trying to make life easier for young people, notably with the measures around stamp duty, railcards and the housing pilot, and these are particularly key for the West Midlands, with Birmingham being the youngest city in Europe*.
“Overall, the measures announced today will help us make strides towards improving and addressing local productivity, which is ever crucial as we prepare to leave the EU. However, investments alone aren’t enough to give the region the boost it needs, so as members of the business and local community, we must continue to shout about our success and work together to be the best we can be.”
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