The meeting was extremely positive, focusing on how organisations and businesses in the region can work together to respond to the current economic climate whilst also building a growing economy for the future.
The up-to-the minute picture on the challenges facing our businesses was presented and the Cabinet agreed on some key areas where immediate support is needed. These included unlocking cash flow to businesses, both in terms of borrowing and ensuring prompt payments, and the need to remain focused on investment in training to ensure that our workforce is better equipped for the challenges ahead.
The Cabinet also identified that there are opportunities for growth in the region that it would push to develop. These included the possibilities of new markets, the ability to make the most of the continued spend in the public sector and using links with Europe to ensure that the region benefits.
All Cabinet members agreed with Phil Hope that they would deliver action and make changes immediately wherever they possibly can, and the Minister pledged to take national issues back to the new Council of Regional Ministers on which he sits.
Phil Hope said:
“I was greatly encouraged by the first Cabinet meeting and saw the real determination from all members to work together to ensure that businesses in the East Midlands are given every chance to survive the tough times ahead.
“I am also pleased that I’ve been able to gather such a good picture of the conditions facing businesses, as I can now go back to my Government colleagues with some clear messages and proposals. By the time we meet again in a month’s time, I am expecting to see the Cabinet members having already started to deliver on the issues we discussed.”
Speaking after the meeting, emda’s Chairman, Bryan Jackson commented:
“We must take swift action to address the problems that businesses are experiencing. I am extremely pleased this Cabinet has been established so quickly and am confident that collectively, we can really make a difference to those people living and working in the East Midlands who are facing tough times ahead.”
The Cabinet will meet again in a month’s time and will continue to meet regularly to ensure that action is being taken to support the economy of the East Midlands.
