Thames Valley Chamber of Commerce (TVCC) has set out a ten-point plan to unlock the full potential of the Thames Valley economy. The plan outlines priorities to strengthen business confidence and ensure that the UK’s true turbo economy, and one of the UK’s most productive economies, remains central to the nation’s future growth.
Representing thousands of businesses across Berkshire, Buckinghamshire, Oxfordshire, and Swindon, from ambitious start-ups and SMEs to some of the world’s leading global companies, TVCC is calling on the Prime Minister to adopt a national growth strategy that recognises the Thames Valley as a strategic partner in delivering UK prosperity.
TVCC’s recommendations focus on improving competitiveness and productivity, developing world-class skills, investing in strategic infrastructure, accelerating innovation and supporting international trade at a time of political change, heightened global uncertainty and increasing global competition.
Paul Britton, CEO, TVCC said:
Driving growth has to be more than a narrative and from this first day of Andy Burnham’s leadership tenure we must see bold changes to boost trade, investment and cut the cost of doing business.
The Thames Valley business community believes that ambition can only be realised if Government also backs the regions that already generate exceptional economic value. Home to world leading industry clusters across five of the eight sectors identified as having the greatest growth potential (advanced manufacturing, creative, defence, digital technologies and life sciences) to globally recognised centres of excellence for inward investment and trade, the Thames Valley is a nationally significant economic powerhouse.
Supporting its continued competitiveness will drive investment, innovation, skilled employment and tax revenues that benefit communities across the whole of the United Kingdom.
Ten-Point Plan Priorities to unlock growth across the Thames Valley and wider UK economy –
- Act swiftly on the Milburn Review. Reduce the cost of hiring young people and those who are NEET, further reform the Growth & Skills Levy to enable industry to invest in workforce development and provide long-term certainty on funding for Local Skills Improvement Plans (LSIPs).
- Back Heathrow expansion to drive economic growth across the whole of the UK and expedite the Western Rail Link to Heathrow a fully developed scheme capable of early delivery and attracting substantial private finance to improve surface access. This will connect 20% of the UK population to the UK’s only hub airport with a single interchange.
- Endorse a fully-fledged Thames Valley Strategic Mayoral Authority for Berkshire, Buckinghamshire, Oxfordshire and Swindon, unlocking more than £18.7 billion of additional economic output for the UK.
- Ensure East West Rail unlocks new housing, employment growth and wider economic opportunities, strengthening links between national innovation clusters, the Thames Valley’s functional economic geography and a new Mayoral Strategic Authority.
- Ensure the UK–EU reset significantly reduces barriers to supply chains, improves mobility for skilled workers and makes it easier for businesses to operate across borders.
- New Hospitals Programme: Accelerate the delivery of a new Royal Berkshire Hospital, beginning with securing the available land option.
- Priming Investment Potential: Designate Slough as an AI Growth Zone and the Thames Valley as a Life Sciences Innovation Zone, with the potential to partner with other UK regions to support the UK’s digital transformation and healthcare ambitions.
- Support our world-leading universities with policies that create an open and attractive environment for international students, researchers and global partnerships.
- Unleash the economic potential of our business community: Commit to reducing the tax and administrative burden and cutting the cost of doing business. Provide the appropriate planning reforms to deliver growth.
- Work with Accredited UK Chambers to grow SMEs’ knowledge, capability and confidence to trade internationally.
