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Powering the North “Now More Important than Ever” in a Post-Brexit UK

Pushing economic growth across the North of England has been said to be “more important than ever” in the wake of the UK's vote to exit the European Union and as a new plan to create more than 1.5 million jobs in the region by 2050 is announced.

Pushing economic growth across the North of England has been said to be “more important than ever” in the wake of the UK's vote to exit the European Union and as a new plan to create more than 1.5 million jobs in the region by 2050 is announced.

A review, released earlier today by Transport for the North, calls for all leaders of the Northern cities to work closely together to continue empowering the North through the creation of more jobs, improved education and the attraction of further investment.


According to the review, the manufacturing, digital development, health innovation and energy sectors account for nearly 2.1 million jobs - 30% of all jobs in the North and just over 35% of the Gross Value Added (GVA).


The review claims that the North should focus on improving the education, logistics, financial and professional services to enable the success of the aforementioned sectors, which could result in the creation of nearly 1.56 million jobs by 2050 and the addition of £97 billion to the Northern economy.


Commenting upon the review's publication, commercial secretary of the Treasury, Lord O’Neill said:


"This review represents a hugely important milestone for the Northern Powerhouse and supports this government’s commitment to rebalance the economy.


"As the Chancellor has said, the referendum result is even more of an instruction to deliver on our work to build a Northern Powerhouse and so it is hugely encouraging that the region’s leaders are working together to set out their long term priorities.


"We will continue to work together to make the North an even better place to live, work and invest in and remind the world that the region is open for business."


On a similar note, Josh Hardie, deputy director-general of the Confederation of British Industry (CBI) said: "The outcome of the EU Referendum means that pressing ahead with powering economic growth across the North of England is now more important than ever.”


With property prices much lower than those found in the south, savvy investors from both the UK and overseas have seized upon the chance to invest in the north of England; particularly those in the 'Northern Powerhouse' cities of Manchester, Leeds and Sheffield.


Figures from the Land Registry show that the North West experienced the greatest monthly growth in the average home value in April 2016, in fact, with the average property price set at £145,149.

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