The prospect of major new infrastructure investments in the region including an upgrade of the A14 and a new initiative to boost the region’s offshore sector were welcomed by business this week. The announcement in the Chancellor’s autumn statement of two A14 projects was a ‘shot in the arm’ of the local economy, according to Suffolk chamber.
Meanwhile, hopes of thousands of new jobs in Great Yarmouth and Lowestoft were lifted as the area was named as one of five national centres for offshore renewable engineering (CORE).
The A14 upgrade will include widening the road between junctions 7 and 9 in Kettering and reducing congestion on the road in Cambs. But the chamber cautioned against the option of tolling on the A14, which emerged in the statement.
“While we of course appreciate that we are in a time of austerity and public spending has to be cut back, it is fundamental that business does not have to pay to help business” said John Dugmore, Suffolk Chamber chief executive. He added: “The cost of fuel for example is at a record consistent high and is debilitating. To add an extra cost for those who regularly use the A14 would be an extra burden.”
Being named as a CORE will build on New Anglia’s Enterprise Zone, which is designed to attract energy-related businesses to six sites in the Great Yarmouth and Lowestoft area. COREs are partnerships between central government, local government and local economic partnerships and will involve a package of support.
Andy Wood, chairman of the New Anglia Local Enterprise Partnership, said: “We are determined to attract as much of that investment as possible to Suffolk and Norfolk and being named as one of only a handful of Centres for Offshore Engineering will really support us in this aim.” Great Yarmouth and Lowestoft are the closest ports to more than £50billion of capital expenditure to be invested in offshore wind, nuclear, gas storage and decommissioning over the next 20 years.
