Business News Round Up (21/01/2022)
Strong recovery predicted for Scottish cities
Scotland’s two biggest cities are poised to see sharply rising growth and record rates of employment this year as they make a strong recovery from the pandemic. Research by Avison Young predicts Glasgow’s gross value added (GVA), a measure of economic output, will rise by 5.7%, significantly higher than its pre-Covid average of 1.4% Edinburgh’s GVA will rise by 5.5%, more than double the average growth rate of 2.6% seen in the decade before the onset of the pandemic. Much of the growth will be a result of recovery from the low activity resulting from lockdowns as companies take on more workers. About 8,500 jobs are predicted for Edinburgh, which would see a record of 382,000 workers in the labour market. About one quarter of the new positions are expected to be in office-based roles. Glasgow is expected to add 9,600 jobs, with about 3,700 in offices, lifting its job total to 449,000, which would also be a record. Unemployment has been falling across the UK. However, there is no mention in the report of growing problems filling vacancies, which has also been impacted by overseas workers leaving the UK following Brexit.
Eden Project North up for approval
Planning officers are recommending Lancaster City councillors give the £125m project in Morecambe the go-ahead. The application will be voted on at the council’s planning committee meeting on 31 January. The report from planning officers suggests approval with the condition that a full travel plan, visitor access and parking strategy, and outreach and education plan are submitted and implemented. The officers also asked for a travel plan contribution of £10,000. Plans for Eden Project North were submitted in September last year. They call for the demolition of the existing buildings on the more than 11-acre Seafront Headland site of the central promenade. Eden Project North, if approved, will be bound by the promenade to the north and east, Marine Road Central to the south and Midland Hotel to the west. Under the plans, Eden Project International wants to build a nearly 200,000 sq ft visitor attraction with an internal floor space of 185,000 sq ft. Eden estimates the Morecambe facility will attract an average of 760,000 visitors per year and will boost the area’s economy by around £47.3m.
New transport blueprint unveiled for Scotland
A mass transit network in Glasgow and bridges or tunnels to some of Scotland’s islands are among the ideas in the Scottish government’s new transport strategy. Ministers have made 45 recommendations to guide transport investment decisions over the next 20 years. Improving public transport links in the biggest city regions is at the heart of the blueprint. Schemes to encourage more people to walk and cycle are also prioritised. The Scottish government hopes that shifting the priorities of transport spending to greener projects will help tackle climate emissions in the coming years. The strategy does not give timescales or funding commitments for its recommendations. The idea of a city-wide metro system in Glasgow was first proposed in 2019and would involve reviving abandoned rail routes, converting heavy rail to light rail, and developing on-street trams.
https://www.bbc.co.uk/news/uk-scotland-60074377
Funding awarded to projects in Greater Manchester which help people develop skills and find jobs
Eight organisations in Greater Manchester have been awarded funding to help improve the lives of people and communities in need. The projects have received a total of £4,240,996 from the UK Government through the UK Community Renewal Fund (UKCRF). All of the projects chosen to receive the fund will work to help support people in the city-region build their skills and increase employment opportunities. The projects chosen range from those which help people aged 16-25 find employment, schemes to connect young people to jobs in the green economy, initiatives to upskill self-employed individuals and new business start-ups as well as mentoring programmes to help people build their confidence. All of the projects must be delivered by 30 June 2022.