Northern Powerhouse Idea Slumps
Friday 28 June, 2019 Written by IoD
Construction projects in the north of England have fallen, five years after then Chancellor George Osborne announced his idea for the Northern Powerhouse.
Analysis by Balfour ABI and the Construction Products Association shows the total value of residential, commercial and infrastructure construction contracts dropped 24% to just £13.2 billion between 2017 and 2018. The fall UK-wide was 16.5%.
Tom Hall, chief economist at Balfour ABI, said “The Northern Powerhouse scheme set out to bring growth in the north in line with the south, but the data shows that this hoped-for expansion has not yet taken off [and] further government intervention is needed”.
Image: George Osbourne, former Chancellor.
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