IMPROVING the North East’s infrastructure would benefit the whole country, says the region’s leading business organisation.
The North East Chamber of Commerce has drawn up a 13-page document, which it says shows how David Cameron’s desire to see the UK economy re-balanced can be achieved without further burdening the over-crowded South East.
The chamber is calling for a change to the way funding is allocated, to target areas which have greater capacity.
A key element would be an alteration to National Grid transmission charges that currently cost the North East £9.73/kilowatt compared with just 25p/kW in Kent, making it far more appealing for new energy ventures to be located in the South than in the North.
And the report reiterates the need for priority funding to improve the region’s strategic road connections, particularly at the A19 junctions either side of the Tyne Tunnel and on the A1 from Leeming to Barton.
President John Mowbray said: “Getting the infrastructure right will significantly increase the appeal of areas like the North East for companies looking to invest.”