Manchester ripe for business investment says Chief Secretary to the Treasury

26 November 2018, 10:17am

Some cities are better choices than others for businesses looking to start-up and expand. As a result, some cities are more primed for investment.

As reported by Gov.Uk, according to a speech given by Chief Secretary to the Treasury Liz Truss, Manchester is one of those cities.

Speaking to business leaders, Truss explained how businesses could benefit from new plans designed to help encourage business expansion.

The article confirms that Sir George Iacobesu, who helped transform Canary Wharf into a world-class financial district, is working alongside the government on plans to develop proposals for up to ten new development corporations or similar delivery bodies across the UK.

This could mean regeneration on a large scale and government funding for whichever areas are selected. The benefits for successful bids include increased space for housing and offices, the opportunity to bring together a network of businesses, and a boost to the local economy.

According to Liz Truss, Manchester could be the perfect location for this development: “Manchester is one of the most spirited, industrious and ambitious cities in Britain and the businesses here are determined to work their way right to the top.”

She continued: “I want the best and brightest businesses to come to the government with ideas for how they would make best use of a development corporation.”

“These hubs could help attract quality jobs, give growing businesses the space to expand, and increase business confidence in the north even more.”

In the Autumn Budget, Chancellor Philip Hammond announced a number of initiatives aimed at supporting the North West. A £770 million boost for the Transforming Cities Fund will help create new and better transport links from city centres to the surrounding suburbs. Meanwhile, £53 billion was also promised to the North West to tackle the issue of potholes.

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