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Property Industry Opinion

Reaction to Autumn Statement from Portal Group


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Reaction to Autumn Statement from Portal Group


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Phil Sugden, Portal Group:

"While we certainly welcome the Chancellor’s commitment of £1.8bn for the English regions from local growth funds, we believe that there is much more to be done to fix the ‘gap between our capital and other cities’, as Mr Hammond acknowledged today.

"Delivering the infrastructure necessary to support new homes and attract businesses across all regions is crucial as is fostering growth through the creation of enterprise zones in Northern and Midlands cities.

"Therefore, we hope to see decisive leadership and fast action to implement the new productivity investment fund of £23bn to be spent on infrastructure and innovation over the next five years.

"Likewise, we agree with the Chancellor’s belief that the performance of regional cities must improve and that it requires stability, especially amid the uncertainty following the Brexit referendum. Projects such as road improvements will help boost productivity and create jobs in the short-term, but we must continue to hand real power to the regions if we are to see long-term posterity."

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