January 2023: regional growth update

We’re committed to ensuring your voice is heard in your region, and that real, practical change can be driven to boost productivity and prosperity. To do this, the CBI sits on business groups across Mayoral Combined Authorities (MCAs) and Local Enterprise Partnerships (LEPs) in the regions, making sure that businesses voice is central to their plans to drive growth across all English regions.

This monthly update gives the latest news from across the regions focused on the CBI Seize the Moment priorities; to achieve net zero, driving innovation, putting business at the heart of UK trade policy shaping a more agile skills system, and instilling a culture of valuing health more as a nation.  

Latest headlines

• The first three freeports in England have launched after receiving final government approval - a year later than first expected. The freeports at Teesside, Plymouth and South Devon, and Solent will each now be able to receive up to £25m in seed capital funding from government, as well as “potentially tens of millions of pounds” in locally retained business rates.
• Two devolution deals for Suffolk and Norfolk have been announced offering the counties in the East of England more powers and funding worth over £1bn. This follows the devolution deal for Cornwall which was announced earlier this month which includes an investment fund worth £360m over 30 years. Each of the deals announced are ‘level three’ deals, which means that the counties will change their governance model to appoint a directly elected leader.

Decarbonisation

• London: The Mayor of London has confirmed the expansion of the Ultra-Low Emission Zone London-wide will come into effect in August 2023. Alongside this expansion, the mayor confirmed a new and improved £100 million vehicle scrappage scheme. 
• East of England: Government has confirmed a £700m deal for Sizewell C nuclear plant  The deal will crea