With many businesses holding their breath in anticipation of the looming Chancellors Budget only days away, confidence is in short supply and the remarkably long pre-budget announcement trail means that too many investment decisions are put on hold. Uncertainty prevails.
So, the signals of local authorities working together to present the case for a fast-track Thames Valley devolution (Strategic Mayoral Authority) to Government will provide a welcome boost to the sentiment of businesses large and small in the Thames Valley. While this is being described by local leaders as a first step, it is a significant one, the case is being made collectively for more devolved powers.
As early as May 2027 (there are some twists and turns to go) this could provide for a more strategic approach to securing key infrastructure, skills, effective place marketing and the mutual gain of maximising complementary strengths, and collectively resolving structural issues such as access to the grid, energy capacity and the distribution of housing.
The signals for central Government about the merits of working at scale were there for some time. Thames Valley Devolution can build on decades of supply chain and sector development (and indeed capitalise on the TVCC Accredited Chamber geography) and unlock new potential.
Leaders of our counterpart Accredited Chambers across the UK are already in touch, praising the co-ordination of effort underway to for the Thames Valley to ‘grasp its own destiny’. Congratulations to local politicians and executives involved in getting to this stage. We hope others will follow.
“local engagement, regional representation, global opportunity”.
A copy of the expression of interest letter is available here
