News Article

LEP reveal post-pandemic recovery plan

22 June 2021

Cheshire and Warrington Local Enterprise Partnership (LEP) has revealed a post-pandemic recovery plan to put the region back on track.

The region has lost some £3bn off annual GVA and doubled the number of residents on Universal Credit during the pandemic.

Over the last 20 years Cheshire and Warrington has become one of the fastest growing UK regional economies, with a Gross Value Added of £32.5bn.

The Recovery Plan sets out a detailed vision for getting that growth back on track with a focus in four key areas – sustainability, economic growth, inclusivity and health.

The immediate priority is the redoubling of efforts to secure Government support to deliver the HyNet project in the region, which would provide the UK’s first Hydrogen production and carbon capture and storage facility and be used to reduce carbon emissions from industry.

HyNet has the potential to create around £17bn GVA and some 5,000 North West jobs before 2025, whilst also delivering more than 1 million tonnes of carbon dioxide savings per annum.

The LEP is urgently seeking a contribution of £200m out of the £800m pledged by Government for capital funding to Carbon Capture Usage and Storage projects.

Read more at: The Business Desk