A bold blueprint for driving investment and growth across the South West of England has been launched just days after the budget.
Following the budget announcement from the Government, there are urgent calls from business leaders in the region to back the industries poised to drive the UK economy - powered by the South West.
Underpinned by detailed analysis of the economy, with extensive consultation and insights from regional and national political leaders, investors, leading academics and business leaders, and contributions from over 50 experts, the Independent Economic Review has now been launched.
It sets out how the South West can drive economic growth in internationally significant areas including marine and maritime, energy, agri-tech, manufacturing, space and defence. All vital to the future success and security of the UK economy and the Government’s proposed Industrial Strategy.
The Great South West Pan-Regional Partnership is stressing that now is the time to back regional growth engines.
Karl Tucker, Chair of the Great South West Partnership and Yeo Valley, said: “While this budget looks to address the fiscal gap, it’s crucial we don’t lose sight of the importance of growth. The Government has recognised that the UK’s growth mission is closely intertwined with economic security and resilience. Our region offers a path forward, as the nation’s food, energy and defence security powerhouse. Now more than ever, we need Government to work with us to unlock the potential of the South West and drive the UK’s economic growth, even in challenging times.”
The Review proposes a new collaborative way of working between the region and Government, to draw on the industrial strengths, resources and opportunities already apparent in the region.
And the business community is joining forces to back the move, calling for a renewed partnership with Government to unlock the region’s economic potential and deliver the high-value, sustained growth which the Industrial Strategy Green Paper aspires for.
The Review makes clear that the Great South West — with its thriving sectors in marine, clean energy, agri-tech, agriculture, manufacturing and defence — is uniquely positioned to support the Government’s ambition for national renewal. However, realising this potential requires targeted investment and supportive policies. Dorset LEP played a significant role in the development and commissioning of the Economic Review.
The region is calling on the Government to adopt a new collaborative model with the Great South West, unlocking opportunities for both regional and national growth, including targeted investment in clean energy, sustainable agriculture, and defence security, to ensure the UK’s economy can continue to thrive under tighter fiscal policies and geopolitical uncertainty.
Clive Higgins, Chair and CEO of Leonardo, said: “The region’s economic potential is vast, and to fully realise it, we need a new collaborative partnership with Government that unlocks investment and growth across key sectors such as aerospace, defence, and clean energy. Leonardo is committed to supporting the development of the South West as a strategic national asset, and we join the call for Government to recognise and back this vital region to deliver the growth and innovation the UK needs for the future.”
Gail Eastaugh, Head of Strategic Partnerships at Cornwall Space Cluster, said: "The Great South West has unique potential to drive the UK’s global leadership in space and clean energy. At Cornwall Space Cluster, we see first-hand the extraordinary innovation and talent here, from pioneering space communications at Goonhilly Earth Station to the growth of advanced manufacturing across the region. With the right investment and Government support, we can boost national security, and position the South West as a key player in the UK’s economic future."
Neil Skelland, Director of Business Development at Atlas Elektronik and Dorset LEP Board member, said: “The region’s strategic capabilities are vital to ensuring the UK’s security and maintaining our global leadership in advanced maritime technologies. Government recognition and support for our key industries will unlock critical investments and accelerate the creation of high-value jobs. The Great South West is ready to deliver for the nation, and provide the security and innovation needed to support both our regional and national economy.”
Brendan Staniforth, Business Planning Director at Babcock International Group, said: “The Great South West is home to some of the UK’s most critical assets in the marine and defence industries, and Babcock is proud to play a leading role in this vital region. Increased recognition and investment of the region’s opportunities will ensure that the UK remains a leader in defence innovation and advanced technologies for years to come.”
The Independent Economic Review is available here.
ENDS
For more information, please contact: Isobel Shaw, isobel.shaw@program.agency
Photo captions
IER panel (L-R): Cllr Linda Taylor, Leader, Cornwall Council; Karl Tucker, Chair, Great South West Partnership; Clive Higgins, CEO, Leonardo UK; Prof Alison Honour, Vice Chancellor, Bournemouth University; Nick Walkley, Principal & UK President, Avison Young
About the Great South West
The Great South West is a business-led organisation covering the ceremonial counties of Cornwall, Devon, Dorset, and Somerset focused on driving investment into the region and promoting the world class potential of the industries, technologies, businesses and workforce located in the south west of England. We do this by convening the collective voice of business, local councils, Universities, and other stakeholders as the pan-regional partnership through the leadership of our Board, which works with Government, our MPs via the Great South West APPG and investors to champion our incredible region on a national and international level.
Its ambition is to deliver up to £45bn of economic benefit and become the leading region nationally and globally for the green and blue economy by 2035.
Dorset LEP is proud to be a founding member of the Great South West partnership.