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Economic strategy for the region launched
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Economic strategy for the region launched
9 September 2008
A long-term strategy to transform the region’s economy has been launched at the annual meeting of the East of England Development Agency (EEDA).
The new regional economic strategy (RES), ‘Inventing our future: Collective action for a sustainable economy’ sets out a vision of a forward-looking and globally-competitive region with ambitious targets for economic growth, skills, employment, greenhouse gas emissions, resource efficiency and reducing inequalities. It aims to boost the performance of the economy, by building on the region’s traditional strengths of research and development, innovation and leading the way in new areas such as environmental technologies. EEDA led the process to develop the strategy in which hundreds of organisations, individuals, businesses and interest groups contributed through workshops and public consultations.
The strategy lays out priorities for action and what needs to change across each policy area. If achieved, the East of England would see its economic position relative to other UK and European regions much improved.
The launch of the strategy comes at a time of increased uncertainty about the economy but crucially it is backed by key players in the region. The East of England Regional Assembly, which comprises the region’s local authorities, business representative organisations including the CBI and Institute of Directors, the TUC, the Environment Agency and others have pledged support for the strategy following some 18 months of development and consultation. Regional partners are currently engaged in action-planning to make the changes outlined in the RES a reality.
Barbara Follett, Minister for the East of England, welcomed the new RES.
“The new strategy sets ambitious targets for economic growth, skills, employment, equality and the environment, which show a welcome commitment by the East of England to many of the Government’s key objectives. I would like to praise the energy and expertise that EEDA, EERA and other stakeholders in the region have put into its development. We have now achieved a consensus on the strategic direction we need to take if we are to tackle successfully the economic and environmental challenges which lie ahead.”
Richard Ellis, chair of EEDA, said:
“The strengths of the regional economy, which has been one of the most robust economies in the first half of 2008, are that it has developed high-value, globally-competitive businesses and is a top-three European centre for research and development.
“The regional economic strategy launched today sets out a vision for where we would like to be in 2031 and what we need to do together as a region to get there. I look forward to continuing the productive working with regional partners and business leaders over the coming months and years to enable the region to capitalise on its numerous strengths and to achieve these ambitions.”
Councillor John Reynolds, chairman of the East of England Regional Assembly (EERA), said:
“The strategy will focus attention on how we can continue to create new jobs and businesses in the East of England through the current challenging economic climate and imposed cuts by government on the Development Agency's budget. We will work closely with EEDA to help deliver sustainable economic growth and increased investment in the region.”
The RES can be accessed online at www.eastofengland.uk.com/res, where you can customise your own RES document to download. You will also find there copies of supporting materials and evidence that underpin the RES, together with links to further information about the implementation phase.
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