John Keyes, International Partner and Head of Cushman & Wakefield’s Manchester office comments:
“I think the Chancellor’s upbeat message on the resilience of the economy is echoed in the level of development activity we are seeing in Manchester and in other parts of the region. The commitment to an Industrial Strategy and support for Science and Innovation is also potentially good news for us given the strength of our regional Universities.
Most commentators were expecting more movement from the Chancellor on Business Rates but as rates increases due to revaluation was largely a London and South East issue, this is probably a positive for our region, where more have gained than will have lost out.
The Chancellor offered more support for social care and for the NHS to support Sustainability and Transformation Plans (STPs). While there are questions about whether this is enough funding to meet the challenges, the key will be for our health organisations, local authorities and partners to secure a fair allocation of funding and to use it to deliver positive change. I hope that Greater Manchester, with devolved health and care funding, will be amongst the first areas to receive the new capital funding announced.
Putting technical qualifications on an equal footing with academic ones is long overdue. There are questions about whether the funding provided is sufficient to meet the government’s ambition but the further education colleges and stakeholders in the region need to work together to ensure benefits for the region are maximised. This will test the more collaborative approach promoted through the recent Area Review process.
Our region has a track record of working together across public bodies and the private sector and this needs to continue and be expanded to secure the benefits arising from this Budget.”
