More than 70 senior business people, policymakers, professionals and academics from across the region attended the latest Lloyds Bank ‘Gameplan’ event at Liverpool Town Hall. Tony McDonough reports.
A lack on investment in major infrastructure is holding back the Liverpool city region’s economy, local business leaders say.
More than 70 senior business people, policymakers, professionals and academics from across the region attended the latest Lloyds Bank ‘Gameplan’ event at Liverpool Town Hall to discuss key business issues.
A survey of those present found 84% believed Liverpool’s prosperity had been hindered by a lack of investment in local infrastructure.
Of those firms that thought more investment in infrastructure would help them grow, they estimated that turnover would be boosted, on average, by 8.3%.
Investment in road would have the biggest impact on the region’s wealth, followed by rail and air, said firms.
Although plans to extend the HS2 line to Liverpool have yet to be approved, two-thirds of businesses present said that national infrastructure projects, like the ultra-high speed rail line, would have a positive impact on the region and its supply chain.
Martyn Kendrick, regional director for SME Banking in the North West, Lloyds Bank Commercial Banking, said: “Infrastructure is clearly an issue for businesses in Liverpool, and much debate surrounds the extension of the HS2 line and its subsequent benefits.
“Having effective infrastructure to meet current and future needs, whether that is in transportation, energy, social infrastructure or telecommunications, is essential in driving long-term economic growth, both locally and nationally.
“We are committed to supporting big infrastructure projects as part of the Government’s National Infrastructure Plan and through the local supply chain.
“This Gameplan event gave us a valuable snapshot view of how businesses are feeling in the area, which helps us to provide tailored support to Liverpool firms.”
Gameplan is part of a national campaign that takes place in 16 locations between September and November.