Monday 20th May 2019
Home General Business News Risks to Cambs growth prospects emerge in economic review

Risks to Cambs growth prospects emerge in economic review

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Cambs and Peterborough have enjoyed faster economic growth than official figures suggest with home-grown companies outperforming others but there are major doubts as to how well the area is set up to cope with future growth, according to an interim report from the Cambridgeshire and Peterborough Independent Economic Review.

The report says growth needs to be ‘inclusive’ and points to signs that the skills system in many areas is not preparing people for work. It highlights a need for higher level technical skills across the area and support for more vocational higher education provision in Peterborough. The report also highlights ‘strategic risks to the area’ if it cannot get the major infrastructure improvements needed and says that previous delays in bringing forward and delivering schemes must not be continued.

Dame Kate Barker, chair of the review, said: “While it is critical to plan for the projects of the future, it is even more important to do the right things now. This will mean ensuring strong growth continues in high-output areas and laying the ground for future growth in lower-output areas.” Under the government’s devolution deal, Cambs and Peterborough has committed to a near-doubling in economic output from £22 bn to over £40 bn over the next 25 years.

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