Andy Burnham, the mayor of Greater Manchester, is giving a speech in Salford this afternoon where he will set out details of his “good growth” plans, having previously explained much of it in a news release.
The Greater Manchester Combined Authority (GMCA) describes Burnham’s “new model of economic growth” as a framework that aims to boost the local economy significantly over the next decade.
Details of the Economic Growth Plan
According to the GMCA, over the past decade, the Greater Manchester region has become the fastest growing part of the UK economy, experiencing annual growth of 3.1%, more than double the national average. A recent report from Oxford Economics praised Greater Manchester’s growth trajectory.
The analysis indicates that if the region maintains its current growth rate, the Greater Manchester economy could expand to over a third larger than it is today, contributing an additional £38 billion to national finances.
Burnham has established a £1 billion “GM good growth fund” and is announcing how these resources will help fund nearly 3,000 homes, more than 22,000 jobs, and 2 million square feet of employment space.
The GMCA stresses this approach differs from traditional development models through a new strategic partnership with the Greater Manchester Pension Fund (GMPF), focusing on sustainable growth and long-term community impact.
Political Implications and Reactions
In a recent interview, Burnham expressed his support for ongoing reforms to the asylum system proposed by Home Secretary Shabana Mahmood. However, he criticized the potential extension of the waiting period for asylum seekers to obtain permanent residency from five to ten years, arguing it could leave individuals in limbo.
Burnham emphasized the need for a balanced approach that allows for integration while ensuring necessary reforms. He called for consensus on these changes, suggesting that a collaborative dialogue around the proposed asylum policies could benefit the country.
The overall agenda for today includes various activities by other senior Labour figures and key governmental statements, further highlighting the active political environment surrounding these pressing issues.
