I was delighted to meet with Andrew Bailey, Governor of the Bank of England, as he visited Navantia UK at Appledore, a key location in the South West, strengthening Britain’s defence, maritime and clean energy industrial capabilities.

The Governors’ concern about jobs and specifically businesses reducing the number of new employees certainly chimes with other insights from across the business sector. This is directly restricting opportunities for younger people and new entrants to the workforce.

This, together with low business confidence and fears about the imminent budget, will make it unlikely that the country will be able to unlock growth and start to deliver the central mission of the Government. Much more work needs to be done to align ambition with processes and decision making – nationally and locally- if we are to start to turn the dial and rebuild trust and confidence to release investment.

We can’t wait for the Government, so I am delighted to see the South West get on with delivery from Bristol Port to Hinkley Point C, Agratas, Appledore, Plymouth and  Dorset, to name a few places on the front line.