The former established Holyrood Hotel in Scotland’s Capital has relaunched today as Edinburgh Marriott Hotel Holyrood, marking the completion of an extensive £10m refurbishment.
Located in the heart of Edinburgh’s historic old town, the hotel, under new ownership, has been brought up to Marriott Hotel standards with an extensive refurbishment. Marriott’s signature style is found throughout all facets of the property and guests can now enjoy an enriched experience with modern, inviting spaces.
With nearly 600 hotels and resorts in over 65 countries and territories around the world, Marriott Hotels continues to elevate the art of hospitality and the new look Holyrood property is synonymous with Marriott’s commitment to delivering enriching experiences, modern design, heartfelt service and timeless hospitality.
The guest journey begins with a heartfelt welcome into the new Greatroom lobby, known as the pulse of every Marriott Hotel. With space to connect, work, or unwind, this is a key feature of the refurbishment, a relaxed and sophisticated lifestyle space, bar, dining area and welcoming lobby. Perfect for guests and local residents alike to catch up over coffee or cocktails or dine from a carefully curated, locally sourced lunch and dinner menu as well as grazing and sharing platters. Afternoon tea is also served in the Greatroom.
The hotel’s Spa and Fitness Centre, with its 14m-heated pool, infrared Sauna, and fully equipped state-of-the-art gym has also been fully renovated and upgraded for guests and members to enjoy.
The 160 sophisticated and inviting guest bedrooms include Junior Suites, Deluxe and King Rooms with sleek wooden floors, and drench walk-in showers amongst other facilities. All rooms boast spacious en-suites, comfortable beds, cosy armchairs and 55-inch wall mounted flat screen TVs as standard.
The city’s vibrant arts scene is reflected in the art on display and carpet designs throughout; inspired by the late Scottish artist, Edinburgh-born Sir Eduardo Luigi Paolozzi CBE RA, known for his sculpture and graphic work and widely considered to be one of the pioneers of pop art. The local influence combines with Marriott’s modern design aesthetics, with interiors based on a cool neutral palette featuring intricate multidimensional patterns and layered textures of natural materials such as marble, sand, onyx and water with rich patterns, an intriguing design tension that provides visual interest and invites reflection.
Media and event spaces have been redesigned and fully equipped to offer excellent new meeting facilities in the city. Marriott’s renowned M Club Lounge also adds a new dimension to the hotel and is designed to recognise and reward Marriott Bonvoy’s Elite members. Platinum Elite, Titanium Elite and Ambassador Elite status members are able to enjoy 24/7 complimentary access to a private and exclusive space for every stay. Located on the first floor, the space is light and modern with an air of relaxed formality designed to facilitate productivity, relaxation and creativity.
Michael Falla, General Manager of Edinburgh Marriott Hotel Holyrood, commented:
“The relaunch of Edinburgh Marriott Hotel Holyrood is an exciting development for the City and the Marriott brand. It is incredible to see the refurbishment nearing completion; bringing the aesthetic of the property and quality of service up to Marriott standards is testament to the hotel team’s hard work and commitment to take the Hotel on the next stage of its journey. Edinburgh is such a vibrant city bursting with history and culture, we’re looking forward to welcoming our new and returning guests to enjoy an elevated and enriched Marriott experience with all that the city has to offer.”
Enjoying a prime location in the heart of Edinburgh’s historic old town, within the UNESCO World Heritage Site, Edinburgh Marriott Hotel is situated directly opposite the Scottish Parliament building, Dynamic Earth and Royal Holyroodhouse, the official residency of the monarchy in Scotland.
Holyrood is not only a short walk from Edinburgh Waverley, its minutes from the historic Royal Mile, Arthur’s Seat and Holyrood Park so the ideal place to enjoy all that the City has to offer from its worldclass visitor attractions to great shopping, walking and cycling routes in and around Edinburgh.
Marriott Hotels is proud to participate in Marriott Bonvoy®, the global travel program from Marriott International. The program offers members an extraordinary portfolio of global brands, exclusive experiences on Marriott Bonvoy Moments, and unparalleled benefits including free nights and Elite status recognition. To enroll for free or for more information about the programme, visit marriottbonvoy.com.
Standard rooms at Marriott Edinburgh Hotel Holyrood start from £209. The Holyrood Spa & Leisure membership is priced from £35.00 pp per month. For more information visit (www.marriott.com/edimh)
- New research from Deloitte finds that successive crises have left Scottish public services “fragile”;
- The survey finds the Scottish public pessimistic for the years ahead, with 63% expecting NHS waiting lists to get worse;
- However, pessimism around the cost-of-living has started to abate, with the percentage of the Scottish public who believe the crisis will get worse dropping from 75% last year to 60% now;
- Scottish adults want the government to prioritise cost-of-living and NHS waiting lists over the next few years, with affordable housing, economic growth and climate change also high on their agenda;
- Scotland is the only UK nation where more favour higher spending over tax cuts in return for improved services.
Scottish public services have been left “fragile” and workforces are “tired”, according to research from a new report delivered by Deloitte and the independent think tank, Reform.
Findings from The State of the State 2024, an annual report that examines attitudes to government and public services, also found that public sector leaders believe that finances – both in Scotland and UK-wide – are unsustainable, and that the Scottish Government needs to prioritise what it does and doesn’t do to match aspirations with available resource.
The report included a survey, conducted by Ipsos UK, of 5,815 UK adults aged 16-75, which included 821 people from Scotland, as well as in depth interviews with more than 100 leaders from across the public sector.
Some public sector leaders report only seeing minimal changes made to public services, or, as one interviewee said, “tinkering around the edges”. Interviewees also noted the need for structural system-wide reform which will allow the sector to prioritise, work towards a collective vision, and enhance its ability to deliver a sector-wide plan for the future.
Several leaders called for greater investment in preventative measures across public services, which they sensed had been scaled back due to budget constraints.
However public leaders also pointed to reasons for optimism, with strengths in higher education, wealth of natural resources and the potential for net zero transition, the opportunity of which, as pointed out by one interviewee, is time critical.
Lesley Smillie, who leads Deloitte’s public sector team in Scotland, said: “Since 2012, the State of the State report has highlighted an ever-growing divergence between the politics and policies of the devolved administrations and the UK Government.
“This year’s report is set against a challenging backdrop, with years of successive crises, tight budgets and mounting pressure on public finances taking their toll on our public services and resulting in a tired workforce.
“What is clear from the report is a real need for systemic change, which can’t solely be achieved by improved efficiencies and productivity. The public wants greater stability, and addressing patterns of demand and setting clear priorities will be essential to provide a glimmer of hope for the Scottish public in the months ahead.
“It is worth noting that there are reasons for optimism, however. Trust in the Scottish Government, although reduced on most metrics this year, remains higher than the other administrations, and there has been significant progress in the adoption of digital technologies across the public sector. Many leaders we have spoken to have ambitious goals for the future, including the use of joined-up data, interoperable systems and Artificial Intelligence to drive efficiencies and improve services.”
Cost of living and NHS top public priorities
For the second year running, the cost-of-living crisis was listed as the Scottish public’s top concern, mentioned by 82% of people, four percentage points higher than the UK average. The next biggest issue in both Scotland and across the rest of the UK was NHS waiting lists, with 74% of the Scottish public saying they should be a government priority.
Concerns about the state of the country’s infrastructure rose by eight percentage points in the last year, now mentioned by 40%. The availability of affordable housing has also risen by six percentage points, putting it level with climate change and economic growth as a public priority in Scotland, at 46%.
The research also found some notable differences in priorities between Scotland and the rest of the UK. Scotland stands out as the UK nation with the highest preference towards higher public spending: 36% of Scots want to see higher taxes to fund improved public services, compared to a UK average of 30%.
Scots are less worried about crime and immigration than those south of the border, with just 35% of respondents in Scotland wanting the government to prioritise crime and policing as a priority, compared to 48% in England. Likewise, 33% of Scots want to prioritise immigration, compared to 45% in England.
Looking ahead to the future
The overall outlook for Scotland was pessimistic, with 63% of people expecting NHS waiting lists to get worse in the years ahead, 60% expecting the cost-of-living to worsen, and 57% expecting the availability of affordable housing to get worse.
Asked how they would like to see public services improved, the top priority cited by 49% of people in Scotland was ease and speed of access. The second most popular answer was accountability (38%), while the third was that people expect services to be the same wherever they live (35%). This was closely followed by ease of communications (34%), and final quality of services (33%).
Lower ranking priorities included collaboration with the private or voluntary sectors, data sharing between agencies, and personalisation, suggesting that the public has limited interest in the organisational structure of public services, caring instead about the outcomes they produce.
This year, around 100 cruise ship calls will take place at Newhaven and Leith. The first ship is due on 1st April. The season continues until mid-October. Passenger numbers per ship range from around 150 to over 2500 guests. Overall around 100,000 passengers and crew will pass through Leith or Newhaven during the season.
YOU ARE INVITED to attend a briefing on the opportunities arising from the 2024 cruise season which will take place at the Malmaison Hotel, Leith, from 10am-12noon on Wednesday 13th March.
We want to build a business network across Leith and Newhaven, so COME AND TELL US ABOUT YOUR BUSINESS.
In addition to learning about the dates of cruise arrivals, the number of passengers expected and the opportunities for your business, EVERYONE WILL HAVE A QUICKFIRE SLOT TO PROMOTE THEIR BUSINESS.
To assist with planning, PLEASE REGISTER YOUR INTEREST IN ATTENDING by e mailing Peter Wilson using the email address info@cruiseforth.com before 12 noon on Friday 8th March.
The event is being organised by CruiseForth, the organisation which arranges for Welcome Volunteers to meet arriving passengers, and which supports the development of opportunities between the cruise industry and local businesses in Edinburgh and around East Central Scotland.
The UK and Ireland Corporate team of DWF, the global provider of integrated legal and business services, advised on 188 deals in 2023, with a combined value of more than £3.5 billion.
DWF’s UK & Ireland team acted on deals across all of the business’ core sectors, but technology transactions amassed the highest value of deals with a total value surpassing £1.25 billion, which included acting for Inflexion on the disposal of Mobica Holdings Limited to Cognizant, valuing Mobica at £250 million; Scottish National Investment Bank on a number of investments; Keywords on its strategic acquisitions and NorthEdge Capital LLP on its investment into HR software specialists, Cezanne HR.
DWF’s corporate activity was fuelled further by the financial services sector, including Sovereign Capital’s investment in LB Group and acquisitions for AFM Wealth, Ascot Lloyd and MKC Wealth. The team also advised global logistics services provider, Cardinal, on its sale to its employees – making it the biggest employee-owned company of its kind in the world and completed a number of transactions for the RSK Group.
The real estate sector also accounted for a substantial portion of the business’ corporate transactions, having acted on a number of high profile deals throughout the UK & Ireland, including advising the Herbert Group on its acquisition of South Belfast retail complex Forestside, that was one of the largest investment purchases in Northern Ireland last year; and Hamburg-based RIMC Hotels & Resorts on its purchase of historic hotel, 30 James Street, situated in Liverpool city centre.
Frank Shephard, Global Head of Corporate at DWF, said: “In 2023, our UK & Ireland team navigated a dynamic landscape and demonstrated a strong performance by securing a sustained volume of impactful high-value transactions across our eight core sectors.
“The continued success of our sector led approach and use of technology-driven solutions to improve the deal process for clients mirrors our commitment to strategic insight and reflects our unwavering commitment to providing a high quality and efficient offering for our clients in the face of ongoing economic uncertainty.”
The British Chambers of Commerce (BCC) Quarterly Economic Forecast has slightly upgraded growth expectations for 2024 and 2025, as the recession lasts just two quarters, but strong growth will remain elusive.
UK Economic Outlook
The UK economy is expected to grow every year until the end of 2026 but will continue to lack momentum. While 2023 ended with a technical recession confirmed for Q3 and Q4, growth for 2024 and 2025 has been revised upwards slightly to 0.5% and 0.7% respectively, with 2026 set to grow at 1.0%.
But the overall growth profile remains low, with a weak rebound in consumer spending as the main driver for any increase in GDP, and interest rates reducing only slowly.
While the CPI rate of inflation has eased faster than expected, core inflation remains higher. Nevertheless, the overall downward trend should continue with CPI at 2.3% in Q4 2024, 2.1% in Q4 2025 and 2.2% in 2026, but remaining slightly above the Bank of England’s 2% target.
Slight upwards revision to GDP
With growth in Q3 of 2023 being revised down into negative territory by the Office for National Statistics, and Q4 also showing a contraction, overall growth for that year now sits at 0.1%.
Despite 2024 beginning at a lower level than previously expected, sufficient growth should occur in the year to recover to levels comparable to the last BCC forecast. Overall, the expectations for 2024 and 2025 are both up, by 0.1 percentage points, to 0.5% and 0.7%, respectively.
But with global headwinds remaining, interest rates falling slowly and only gradual expansion in consumer spending, the BCC expects economic growth to remain subdued – finally hitting 1.0% in 2026.
But the recovery remains fragile as consumer and business confidence are muted – although disposable incomes are now above pre-pandemic levels, households are still spending less than they did in 2019.
Other dampening factors include historically higher interest rates weighing heavily on investment in house building and home improvements, and government expenditure declining for the next three years.
Subdued global demand, further trade barriers with the EU, and conflicts in the Middle East and Europe mean trade is also likely to continue to suffer. Exports are set to fall in 2024 by 1.3% before rising by 1.1% and 1.7% in 2025 and 2026. Imports are expected to be more lacklustre as a relatively weak UK economy restricts growth.
With inflation and interest rates both falling, the BCC still expects business investment to increase across the three years of the forecast, but the other factors mean the changes will be limited. There will be a rise of 1.0% in 2024, 0.8% in 2025 and 1.5% in 2026.
Average earnings will continue to perform strongly
Average earnings are expected to continue to grow more strongly than inflation across the forecast period, with annual growth of 3.0% to Q4 2024, followed by 4.0% to Q4 2025 and 4.5% at the end of 2026.
With core inflation proving stubborn, wages continuing to rise, and geopolitical uncertainty persisting, the Bank of England interest rate is expected to fall only slowly. The BCC now forecasts a base rate of 4.5% at the end of Q4 2024, then 3.5% for Q4 2025, with no further change by Q4 2026. .
Unemployment rate expected to be slightly lower than previously expected
The unemployment rate is expected to rise slightly to 4.2% in 2024 and then 4.4% in 2025, a slight downgrade from last quarter’s forecast. However, the labour market is set to remain tight as difficulty finding skilled staff and long-term sickness impact the available workforce. BCC research shows most firms seeking to recruit continue to report skills shortages.
Commenting on the forecast, Vicky Pryce, Chair of the BCC Economic Advisory Council, said:
“The BCC’s latest forecast shows the economy is still searching for the way out of its current malaise. While it’s welcome that GDP looks set to grow, the lack of momentum indicates some fragility.
“Pro-growth measures from the Autumn Statement may take time to have an impact and business and consumer confidence are rebuilding from a low base.
“With interest rates falling only slowly and minimum wages rising in April as pay, in general, outstrips inflation, businesses are unlikely to fully turn on the taps to fresh investment.
“With a general election on the horizon, politicians will need to demonstrate to firms that they have a sustainable long term economic plan that plays to the UK’s strengths and gives companies confidence.
“But unless the base interest rate starts to fall more sharply the economy is likely to remain close to stagnation.”
David Bharier, Head of Research at the British Chambers of Commerce, said:
“With the current forecast expecting less than 1% growth over the next two years, it’s not obvious where large-scale economic growth in the UK will come from.
“Our research is clear about the issues UK SMEs face – skills shortages, high inflation that eats at margins, high interest rates that make borrowing harder, and trade barriers with the European Union, which all hit investment.
“Some sectors, such as retailers and hospitality, have been facing recession-like conditions since the onset of Covid lockdowns in 2020.
“Boosting long-term investment through a clear plan for the UK economy is key. The upcoming Budget will need to focus on reform of business rates, a more effective planning system, improving access to skills, and reviewing the current £85k VAT registration threshold to ensure this is not a barrier to growth.”
Granton Station is buzzing again as a hub for creatives and entrepreneurs after its £4.75million restoration led by arts charity Wasps and the City of Edinburgh Council.
The rebirth will support 40 jobs and help 100 grow their businesses, while community exhibition and event spaces create potential to attract thousands of visitors to the North of Edinburgh.
Wasps have unveiled flexible and affordable working spaces to accommodate freelancers, creative enterprises and start-ups in Edinburgh. Options range from hot-desk memberships within a shared co-working space to flexible office spaces.
The former gasworks railway station has been transformed into a cutting-edge creative hub providing staffed reception, high-speed fibre broadband kitchen areas, gallery and workshop spaces cycle parking, lockers and shower as well as access to Wasps’ professional development network
Audrey Carlin, Chief Executive of Wasps, said: “At Granton Station, you’ll be part of a network of designers, social entrepreneurs and cultural producers, making our spaces the perfect place for inspiration and potential collaborations.
“If you’re just working as an individual from home at the moment this provides you with a more professional base from which to start and grow your practice and to expand and contract as your business needs change.”
Among the first wave through the doors are nine emerging artists on the ground-breaking Granton Graduate Accelerator Programme, launched with support from Creative Scotland and Edinburgh College.
Pairing with experienced mentors over the next 12 months, graduates get the tools needed to bridge the chasm between academia and the real-world challenges of carving out a career.
In turn the ‘Wasps Granton Grads’ bring their art to the community, in the form of workshops and exhibitions.
One of the first recruits is photographer and sculptor Heather Roberts, who emerged from Glasgow School of Art with a degree in Fine Art Photography.
Heather is paired with Andy Kennedy. A lecturer in fine art at Duncan of Jordanstone College of Art & Design and a working artist, he has experience of both worlds.
Heather said: “That transition from academia to work can be daunting. While you get career advice at university, nothing can really prepare you for life in the real world. Andy and the other mentors offer us the benefit of their knowledge in an environment purpose built to nurture creativity.
“It is psychologically helpful to be in a room with other creatives and mentors, sharing similar experiences and similar challenges.”
Wasps are Scotland’s leading provider of creative spaces, directly supporting Scotland’s creative economy with over 1000 artists and makers, 47 creative businesses and 33 cultural charities in 21 studio buildings from Shetland to the Borders.
More details on opportunities at Granton Station here or get in touch with the Wasps team at Granton Station on 0131 202 7889 or email granton@ waspsstudios.org.uk.
- EICC increased revenue to £12.8m and profit to £2.6m during the year
- Economic impact, which relates to the direct benefit of conferences and events taking place at the EICC to Edinburgh and the surrounding region, totalled £58m
- The venue hosted over 132,000 delegates and visitors in 2023
Edinburgh, 20 February 2024 – the Edinburgh International Conference Centre (EICC) has reported record revenue of £12.8 million for the year to 31st December 2023 [2022: £11.8m], along with a record profit of £2.6 million [2022: £699,000].
EICC CEO Marshall Dallas said: “We kept our sales team intact throughout the pandemic, which in retrospect was integral to our revenue performance last year because we were able to hit the ground running post-pandemic.”
The economic impact figure, which relates to the direct benefit of conferences and events taking place at the EICC to Edinburgh and the surrounding region, totalled £58 million [2022: £51.9m]. Total economic impact since the EICC opened its doors in 1995 is now at approximately £850 million.
The venue hosted over 132,000 delegates and visitors during the year [2022: 72,000], with eighteen international associations holding major conferences at the EICC. Global Equity Organisation’s 24th annual conference in April, the 15th World Congress on Endometriosis in May, and HYDRO 2023 in October were among international association conferences held at the venue last year.
Marshall Dallas added: “Holding large international association conferences is a significant part of our raison d’être, and in the current year we already have twenty-one international conferences confirmed to take place, so that’s a really encouraging number for us and for business tourism in general in Edinburgh and Scotland.”
Two of the major international association conferences taking place this year at the EICC are the World Congress on Controversies in Breast Cancer in September, and the 36th International Papillomavirus Conference in November.
Having been Edinburgh’s main vaccination centre throughout 2021, in partnership with NHS Lothian, the EICC recently hosted the 3-week Scottish COVID-19 Inquiry, which Marshall Dallas says is a sign of how the venue has come full circle since the onset of the pandemic:
“After closing our doors in March 2020, we pivoted to become the city’s main vaccination centre the following year, and it felt fitting to have the recent Covid inquiry here in the same building. In addition to being a commercial enterprise, hosting events of this nature fulfils our triple bottom line objectives of having a strong economic value, leading the way in sustainability, and positively impacting societal matters.”
In December, the EICC announced a string of major conference wins over the next three years that will equate to its strongest ever pipeline of events business. The 40 conferences and events will bring around 20,000 delegates to Edinburgh and the EICC and translate to around £32 million of economic impact.
The EICC opened its doors to the Edinburgh Festival for the 20th time in 2023.
Global engineering and sustainable development consultancy recently appointed digital expert Jeremy Doherty as its new Edinburgh officer leader.
Jeremy has over 17 years’ experience managing and delivering a wide range of digital technology, engineering, energy, and environmental projects, specialising in those using innovative technologies and data, seeking out major challenges and hurdles and implementing technology to streamline processes and improve outcomes.
In addition to his role as officer leader, Jeremy also leads the firm’s Digital Services Business and Environmental Impact Assessment programme, in Scotland, Northern Ireland and North-East England and is passionate about the role digital technology and data can play generating tangible solutions particularly in helping to address climate and nature emergencies.
Utilising Arup’s expertise in engineering & design and market-leading skills in climate, energy, planning and digital, Jeremy is focused on increasing Arup’s impact on local communities and environments working closely alongside clients, partners, and collaborators.
“Scotland has such a rich culture of innovation, commerce and engineering, that forms a fantastic foundation from which we can build. With our academic institutions continuing to supply industry with talent and knowhow, I believe we are in a unique position to increase our position on the world stage and take a front seat in delivering solutions to global challenges. At Arup, we have purposely put sustainability at the centre at everything we do, whether it be working to decarbonise energy systems, creating more resilient and greener transport networks, or realising the true value of our biodiversity and natural capital and how that can help us shape a more equitable and prosperous future, “said Jeremy.
By providing technical expertise and leadership helping to ensure digital technology and data is used appropriately, such as developing databases and interfaces to enable deeper understandings of how our systems connect and work together or identifying where meaningful interventions, can result in better outcomes for issues such as flood risk, energy consumption, and natural capital.
Two-thirds of parents in the UK are worried about their children’s mental health. And rightly so, as 1 in 6 children in the UK are experiencing mental health problems.
When children are anxious and stressed, parents are often anxious and stressed.
That’s why at Edinburgh Leisure, we’re taking a whole family approach to wellbeing and empowering our employees to support their children’s mental health.
Our employees now have access to the Wee Seeds Mini-Minds Wellbeing Toolbox. It’s a programme of fun and easy mindfulness exercises for children. It’s all about bringing calm and connection to families.
Helen Macfarlane, Director of Wellbeing at Edinburgh Leisure said: “Encouraging and supporting people’s health and wellbeing is at the heart of what we do at Edinburgh Leisure. We deliver a range of wellbeing initiatives to support our customers’ and employees’ health and wellbeing. We’re investing in our employees’ mental health. So, we’re taking a whole family approach to mental health and empowering our employees to support their children by giving them access to the @WeeSeeds Mini-Minds Wellbeing Toolbox. Our staff deserve good mental health and so do their children.”
Wee Seeds Founder, Christina Cran, said: “We believe it’s time for employers to take a whole family approach to mental health. All the areas of our life, work, home, and social life, intersect with each other. By working on having a calm family environment at home, we can improve all areas of our lives. Calm families, equal calm staff. That’s why we’re delighted to support Edinburgh Leisure with their staff and their families’ wellbeing.
“Our Mini-Minds Toolbox is designed to help shape the next generation’s mental health. The mental health crisis starts with our children, it’s time we tackle that early.”
Mindfulness can help children:
– Focus more easily and be ready to learn
– Sleep better
– Feel less anxious
– Feel more connected to their family
– Build resilience
– Understand their emotions
– Deal with frustration better
– Become kinder to others and themselves
These are skills children can use today and for the rest of their lives so we are also investing in the future of the workforce.
As a social enterprise, all profits Wee Seeds makes go back into its social impact programme.
So, by partnering with Wee Seeds, Edinburgh Leisure will also contribute to Wee Seeds’ social impact programme Growing Good, which will support families in poverty or struggling with their mental health to nurture their mental well-being.
To find out more about how Wee Seeds is improving mental health, visit weeseeds.co.uk
To speak to Wee Seeds, email christina@weeseeds.co.uk, or telephone 07725 316513
The British Chambers of Commerce new Local Economy Of The Future report sets out 16 policies that could transform the UK’s growth potential by empowering businesses, communities and local government.
Among the crucial changes it recommends are:
- Devolving more powers to regional and local government so decision-making is closer to the issues.
- Giving the National Infrastructure Commission real teeth to influence long-term strategy.
- Accelerating the role out of electric vehicle charging and digital infrastructure to support sustainable connectivity.
- Boosting resources for Local Planning Authorities to unblock the logjam on permissions.
- Expanding the Banking Hub model across the UK to give businesses and communities easier access to finance.
- Ensuring the voice of business is heard in strategy development and decision making at both a local and national level.
The ‘Local Economy Of The Future’ report is being published at an event hosted by North and Western Lancashire Chamber of Commerce, on Tuesday 20 February, at Daniel Thwaites HQ, in Mellor Brook, near Blackburn.
It is the third of five policy documents being published by the BCC’s new Business Council as part of the ‘Future of Economy’ project. The report draws on expertise from businesses of all sizes and sectors, academia and think-tanks.
Its proposals aim to increase the productivity of the local economy by letting businesses capitalise on the opportunities provided if their areas are more sustainably focused and digitally enabled.
And it recognises that for places to thrive then three forces need to come together – the community, business and local government.
Among the themes to emerge in the work of the report are the need to provide local government with more resource to speed up its capabilities and capacity around infrastructure planning and transport.
It also identified that the tax system must do more to incentivise the growth of small and medium sized firms by reforming business rates, VAT and tourism charges.
Martha Lane Fox, President of the British Chambers of Commerce and Chair of the Business Council, said:
“When the first Chambers of Commerce were established more than 200 years ago, they set out to fight the corner of businesses in their communities. Our network has always been inextricably linked to the places and people where they are based.
“While much else has changed in that time, the devolution of power and authority to those best placed to decide what works for their local economies has been too slow.
“In this digital age, and on the cusp of a new green industrial revolution, we must finally shift the balance. If we get this right, it will give our local economies, their businesses and communities the best possible chance to thrive in the 21st Century.”
Sebastian Munden, Chair of the Local Economy Of The Future Challenge Group, said:
“If we make a concerted effort to seize the future quickly, the UK has an opportunity to be at the forefront in shaping a more purposeful world economy.
“But too often the country’s ambitions for a brighter future end up fractured and disjointed, as the enablers, and therefore the opportunities, are unevenly distributed across geography and communities.
“If we want a better quality of life and a more circular economy that is better for our planet, then we must bring everyone on the journey, removing the impediments to scale for thriving sustainable businesses, and empowering local strategies for skills and infrastructure.
“Communities tend to prosper where there is strong local leadership, a powerful sense of place, and business is responsibly integrated into decision-making. Creating the framework to sustain this trinity will guarantee our local economies thrive in the future.”
James Timpson, Chief Executive of the Timpson Group and Chancellor of Keele University, said:
“Local communities are the building blocks upon which our economy sits. They are where the people who come together to drive our businesses live, and one cannot survive and prosper without the other.
“These are testing times, and we face major economic challenges but there are also exciting opportunities ahead.
“This report is a strategic roadmap for how we navigate the path before us. It will make sure the big ideas of tomorrow, that are being developed by our business communities, get the best possible chance of success.”
Babs Murphy, Chief Executive of the North & Western Lancashire Chamber of Commerce, said:
“Local economies play an indispensable role in fostering prosperity and sustainable growth within our communities. Emphasising their significance is crucial in promoting self-sufficiency, boosting job creation, and preserving the unique character of our regions.
“By nurturing our local businesses and industries, we reinforce socio-economic resilience, empowering both individuals and communities.”
