Labour’s Shadow Mayor for the West Midlands, Liam Byrne today called on the Prime Minister to guarantee the West Midlands its fair share of national investment - which would deliver an extra £7 billion for the West Midlands over the next five years.
Publishing figures prepared by the House of Commons library, Liam revealed that currently, the region is allocated just 7% of the Government’s existing capital budget for the next five years - even though the region is home to 9% of the country’s population.
Changing the way investment is allocated to the region, to a per population basis, would raise the region’s investment budget to £32 billion - to invest in projects that could help the region become Britain’s capital for green manufacturing.
While Boris Johnson is visiting, Liam Byrne will be joining local councillors to visit our frontline heroes at Russells Hall Hospital and Edmore House Care home to ask what they need in the next ten years to make sure they are never put under this much pressure again."
Ahead of the Prime Minister’s visit to Dudley today, Liam said:
‘Across our region people are really worried that we’re on course for a huge recession. West Midlands industry is the jewel in the crown of British manufacturing and bluntly it’s now at real risk of wipeout. So we need to pull together fast to save our factories.
‘It’s good that the Prime Minister has come to listen to the real world.
‘The problem is that once his new pot is divided across the country, it’s going to be far less than even the underwhelming amount our Tory Mayor has asked government for.
‘It would have been better if he’d agreed that it’s time for our fair share of the national investment pot because today, government investment in London is two times what it is in the West Midlands. That simply isn’t fair.
We can’t take the risk of too little, too late. What we need is real help now - and once and for all, our fair share of the national investment pot.