Greater Manchester’s economy has grown faster than anywhere else in the UK over the last 10 years
Manchester city centre has driven growth in the region(Image: Getty Images)
The government has sent its advisors to Greater Manchester to learn about our extraordinary economic growth over the last 10 years. At an average rate of 3 per cent per year, the local economy has grown faster than anywhere else in the UK over the past decade.
This is double the rate of growth compared to the country as a whole and even higher than London’s. Ministers have now chosen Manchester as the headquarters for their new Industrial Strategy Advisory Council in the hope of learning lessons from the region.
It comes two weeks after Andy Burnham launched his £1bn Good Growth Fund, promising to spread the huge growth of the city centre to other parts of the region. The announcement sent a signal to the government desperate for growth ahead of the budget.
The government has now announced that its independent advisors tasked with helping deliver the UK’s industrial strategy will be based in Manchester. The advisory council has also announced a new partnership with the University of Manchester as part of this.
Industrial Strategy Advisory Council chair Clare Barclay (left) and President and Vice-Chancellor Duncan Ivison(Image: Craig Strong)
Dame Clare Barclay, who chairs the advisory council, told the Manchester Evening News that she hopes to learn from the success of the city and try to replicate it in other places across the UK. The former CEO of Microsoft UK, who is now the company’s president of enterprise and industry, said: “Manchester has been paving the way for local growth for over a decade. It still has so much potential.
“I think it’s a hub for innovation, investment and job creation. So we want to make sure that, through the partnerships with the University of Manchester, we’re tapping into the potential that’s already been created and the future potential.
She added: “There’s just a lot to be proud of. There’s real energy in the city and there’s a desire in Greater Manchester for the way that businesses, local leaders and education providers come and collaborate together to attract investment and provide local jobs that focuses on how to drive up living standards for local people.
“I think for me, there’s just a lot to admire here and I think we’re going to learn from it and be part of that success story.”
The new partnership with the University of Manchester’s innovation unit, Unit M, will give the advisory council access to research and expertise to inform recommendations for the government’s industrial strategy as well as monitoring its progress. And while it has a national remit, it will also use in-depth knowledge of Greater Manchester to add a regional perspective to the industrial strategy.
Professor Duncan Ivison, President and Vice-Chancellor of The University of Manchester, said: “We’re delighted to join forces with the Industrial Strategy Advisory Council. This partnership sets a benchmark for the kind of collaboration that will shape the development and delivery of the Government’s Industrial Strategy.
“This is a fantastic opportunity for the Council, the University, and the region. Deepening ISAC’s ties to Greater Manchester’s innovation ecosystem will help drive growth and prosperity across the UK.”
Minister for the Industrial Strategy Blair McDougall said: “Our modern Industrial Strategy is kickstarting an era of economic prosperity, and this landmark partnership will help provide expert advice as we continue to effectively deliver our Strategy over the next decade.
“By bringing academia and industry together, this partnership will unlock the local innovation we need to drive economic growth into Greater Manchester and every part of the country.”