Simon Lloyd, National Head of Industrial agency, based in Birmingham comments on the impact of the Budget on the West Midlands:
“The background to the Chancellor’s Budget is one of positivity with the trade deficit at its best position for 15 years linked to good growth forecasts which are both strong and steady. These forecasts make it easier for businesses to plan for the future including their property requirements so it is also important that sufficient land and building opportunities are available to accommodate such plans.
“A number of new initiatives have been announced which help to improve the business dynamics of the region. The success of the region’s automotive industry is recognised with £20m towards the ‘Autodrive’ initiative for driverless cars which will be focused on locations including Coventry and the extension of the EZ at MIRA. The success of the energy sector is also recognised with the £60m investment into the Energy Research Accelerator and the new Energy Systems Catapult which is to be based in Birmingham.”