NEW RESEARCH SHOWS WEST MIDS HIT HARDER THAN REST OF BRITAIN

Report spells out need for extra help for the region, says Austin

New research published today by the Financial Times shows the West Midlands was hit harder during the downturn than anywhere else in Britain – and is taking longer to recover.

Dudley North MP Ian Austin is planning to use the figures to step up his campaign for support to bring new industries and new jobs to the region.

Austin – who jointly chairs the All-Party Group of West Midlands MPs – says he is asking Chancellor George Osborne to meet MPs to discuss the challenges the region faces.

The new research shows the West Midlands:

·         Suffered the largest fall in employment (down by 4.5% since 2008 – more than anywhere else)

·         Was hit by the third largest fall in output in the UK (only Northern Ireland and Eastern England fared worse, but employment grew in both those regions)

·         Was the region where both unemployment and output fell by most over the last three years

Ian Austin said:

“These new figures prove we need extra help to get the West Midlands moving and attract new industries and new jobs.

“We’ve got major strengths in the region with our background in innovation, manufacturing and design and we’ve got brilliant world-beating businesses and some of Britain’s leading industrial research universities.

“The government says it wants to rebalance Britain’s economy away from financial services and over-heated London and the South-East and the only way it will be able to do that is by helping us bring new industries and new jobs to the West Midlands.”

The FT’s research is covered at: http://www.ft.com/cms/s/0/b91d7d4c-2cb9-11e1-8cca-00144feabdc0.html#axzz1iTNQx37s

The interactive map on regional growth is at: http://www.ft.com/cms/s/0/9ffb3c36-3633-11e1-a3fa-00144feabdc0.html#axzz1iTXZXzE0