November 2022: 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 Chancellor, Jeremy Hunt, will present an Autumn Statement on 17 November.  The government’s priority will be to show ‘how the books balance’ to give markets confidence and restore stability.  This is likely to involve significant tax rises and spending cuts to ensure debt levels in the UK start to fall over time.
• Plans for investment zones are due to be revised in the Autumn Statement. Speculation is that the zones will be dramatically scaled back or dropped in favor of a revamped urban regeneration policy.

Decarbonisation

• Yorkshire and the Humber: Thirty manufacturing companies from across the UK are taking part in a new programme to prepare for opportunities in the UKs future hydrogen and carbon capture economy. In the year long programme for the zero carbon Humber Partnership, the companies will work towards the Fit For Hydrogen and Fit For Carbon Capture, Using and Storage standards.
• Midlands: Energy Superhub has selected Coventry for its second site. The new battery site will support the decarbonisation of both energy and transport across the UK.
• London: A UK aviation consortium consisting of three airports (Heathrow, London City, HIAL), three manufacturers (GKN Aerospace, Rolls-Royce, Cranfield Aerospac