Mayor sets out £3bn recovery plan for region
The West Midlands needs more than £3 billion in Government cash to get back on its feet after the coronavirus pandemic, Andy Street has said.
The region's Conservative Mayor has called on ministers to demonstrate their commitment to the "levelling-up agenda", by providing the funding over the next three years to boost economic recovery.
Around £3.2bn has been earmarked for a new gigafactory, investment in healthcare innovation and major infrastructure and transport investment, which Mr Street hopes will create or safeguard more than 135,000 jobs, build 35,000 new homes and help mtackle climate change.
The plans have been put to the Government in a new blueprint to kickstart the West Midlands economy, which was launched by the Mayor and Wolverhampton Council's Labour leader Ian Brookfield.
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Mr Street said: "The West Midlands economy was in good shape before the coronavirus pandemic first struck, and we need to do everything we can to get back on our feet quickly, learning the lessons of our rebound from the financial crash of 2008/09.
"We want to keep as many people in work as possible, and, for those who fall out, we want to create new jobs and offer digital retraining opportunities in sectors such as construction, automotive and the creative industries.
"The Government can demonstrate its commitment to the levelling-up agenda by backing this blueprint and continuing to invest in the West Midlands."
It is believed the first opportunity to secure funding will be next month, when the Government is expected to outline the next steps in its economic response to Covid-19.
Councillor Brookfield said: "Immediate economic injection will help communities now and pay dividends for generations by avoiding the risks of long-term scarring to those who risk being left behind."
The blueprint has been developed with the region’s local enterprise partnerships, universities, business groups and local authorities, as well as firms including Severn Trent and the NEC Group.
Liam Byrne MP, Labour's candidate for West Midlands Mayor, said the plans were "a step in the right direction" but still fell short of what was needed.
"Let’s be clear, we could have the whole £3.2 billion investment we need next year if only the Government gave us our fair share of the national pie," he said.
West Midlands Police and Crime Commissioner David Jamieson said the plan was "insufficient to tackle the ticking time-bomb of youth unemployment".
He said: "I fear that even if the Government enacts this plan in full it will fall far short of what the region needs and risks a long term downturn in economic terms and a rise in disorder, akin to the awful years of the early 1980s.
"Without a more ambitious programme the economic disaster of Covid-19 will create an even longer lasting social scar on communities. I will be publishing a more ambitious plan that I intend to use to hold other public bodies to account with shortly."
