Jim O'Neill's City Growth Commission calls for northern 'supercity'
An influential study led by former Goldman Sachs economist Jim O’Neill has called for the creation of a "supercity" in the north of the UK to close the gap between London and the rest of the country.
The 'Unleashing Metro Growth' report from the City Growth Commission said if the UK’s top 15 cities were to realise their potential, they would generate an additional £79bn a year.
Chairman O’Neill said the “ManSheffLeedsPool” supercity, based on giving Manchester, Sheffield, Leeds and Liverpool more power, should have its own tube and oyster cards to improve the transport system in the north and the Midlands.
While those four cities should be the first to gain extra powers, the report said other regions could soon be “ready to manage the risks”.
“It is clear that our centralised political economy is not fit for purpose,” it added.
Chris Richards, Business Environment Policy Adviser at EEF, the manufacturer’s organisation, said: “Today’s report is a more realistic set of proposals on what a package of devolution to support growth could look like. The recommendations appropriately balance accountability and financial freedoms and are right in focussing on solutions for all of the UK, not just a select few areas.”
“This is something that businesses could get on board with as it focusses on growth, not displacement activity, and minimises the potential for complexity in the local business environment, a key worry for firms."