The first plans to reward the red wall for partially turning blue are being reported:
‘The north of England could be set to get its own version of MIT as part of Boris Johnson’s plans to boost the region’s economy.
The government is in discussions to set up a new institution that would provide space, technical support and seed money for the next James Dyson trying to invent products for a global market.
Jake Berry, the Northern Powerhouse minister, is leading discussions on setting up an “MIT of the north” as part of a multibillion-pound investment package for the region. Leeds is being touted as a possible location.
“MIT in Boston is one of the world’s most dynamic universities and provides its region with a significant boost to its economy,” Berry said last week.
“We want to set up a world-leading institution in the north to rival Oxford and Cambridge, where the best and brightest will base themselves to create new ideas and sell them.”
Tory sources say money would be made available to entrepreneurs at the facility to develop their inventions. Universities outside the “golden triangle” of London-Oxford-Cambridge are regarded as underperforming when it comes to converting academic research into practical business ideas.
The Northern Powerhouse — a plan to unlock northern England’s potential by transferring powers and budgets out of the capital and investing in skills, innovation, transport and culture — is in line for a further boost as ministers plan to give it a “large chunk” of the UK Shared Prosperity Fund for projects in Labour’s former “red wall” constituencies.
The fund will start in 2021, matching the £10.5bn that would have been due from the European Structural and Investment Fund over six years, if not for Brexit.
Government sources say the money will be spent on clean energy research and development; green-collar jobs such as those connected to wind farms; and transport connectivity. It would be the first time the Northern Powerhouse has been in control of its own budget.
“I want this to be about a transfer of power and money back to the north of England, rather than constantly having to ask the Treasury for money,” Berry said. “This is about making the change a permanent one.”
Other investment plans for the north include:
● A £900m devolution package for West Yorkshire, with similar powers to Greater Manchester
● Northern Rail to be stripped of its franchise and an “operator of last resort” brought in to run the railway under direct government control
● Extra funding of £4.2bn for the “metro mayors” in eight regions to spend on local public transport, including Liverpool city region, Greater Manchester, Tees Valley and North of Tyne
● Northern Powerhouse Rail, to be announced in the budget in February, with the full £39bn cost expected to be taken from an £80bn infrastructure pot to develop better transport links.’
https://www.thetimes.co.uk/article/supe ... -wvc0nh7fj