Chancellor George Osborne to set out long term economic plan for Yorkshire during visit to West Yorkshire

M62, trains and tourism feature in chancellor's economic plan during regional visit

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00:01, 5 FEB 2015

Chancellor of the Exchequer George Osborne makes a key note speech at the Science and Industry in Manchester where he said that a new high-speed rail connection and better roads could create an economic "powerhouse" in the north of England to rival the success of London. — Chancellor of the Exchequer George Osborne (Image: Martin Rickett/PA Wire)

Chancellor George Osborne will today unveil an economic plan for Yorkshire during a visit to West Yorkshire.

And he’s set out what is means for you in a piece with the Examiner:

The Chancellor said: “I’m here today with a simple message for readers of the Examiner: Our Government has a clear long term plan for Yorkshire.

“For too long we had an unbalanced economy that left some parts of the country behind. We are determined to change that and build a truly national recovery.

“We are now seeing that recovery here in Yorkshire. Private sector employment is growing at a faster rate than anywhere outside London.

There are 114,000 more people in work here than there were in 2010 – that’s 114,000 more people with the security of a regular pay packet being able to provide for their families.

“But we need to keep going. So today we are setting out the Long Term Economic Plan for Yorkshire.

“This plan sets out an ambition to add an extra £13bn to the economy here in real terms by 2030, equivalent to over £2,000 per person.

“We will do that by increasing the long term growth rate of Yorkshire to at least the long term growth rate of the whole of the UK. And if we sustain the current high rate of job creation, we can get over 100,000 more people into employment here by the end of the next Parliament.

“We’re already spending more on our roads than we have since the 1970s – and more on our railways than we have since the Victorians. We’re investing in new trains for the north – something championed by great local MPs like Craig Whittaker in the Calder Valley, Jason McCartney in the Colne Valley and Simon Reevell in Dewsbury.

“But in the next Parliament we will go further, with the largest investment in transport in Yorkshire in modern history.

Huddersfield in particular stands to benefit from the new high speed rail link across the north, and from making the M62 four lanes over the Pennines. We will also and increase speeds on the East Coast Mainline to 140 mph – things that will make a real difference to families, commuters, businesses and visitors alike.

“Our plan means making major scientific investments in Yorkshire and backing leading industries here. Renewable energy on the Humber. Advanced materials research in Leeds and Sheffield, and Quantum Computing in York. It means supporting tech startups in West Yorkshire.

“And we’re backing tourism too. Yorkshire was recently ranked as one of the top places in the world to visit – and it’s no surprise. From the Yorkshire Dales to Castle Hill, from Holmfirth to the Piece Hall, and the unforgettable Tour de France, there is so much to draw thousands of visitors to this stunning part of the world. But our plan is to go further – to increase overseas visits by a quarter.

“That means backing a rural tourism campaign, getting behind the Tour de Yorkshire in May, and backing a Yorkshire bid for the World Road Championships.

And that’s good news for Yorkshire – it will create at least 2,500 jobs in the area.

Supporting Yorkshire’s business. Creating Jobs. Rebalancing our economy. These are the objectives of the Long Term Economic Plan for Yorkshire. It means a brighter and more secure future for you. With your support we can deliver this plan for Yorkshire’s future.”