EXPO REAL 2016: Cities in the Northern Powerhouse have to collaborate to make the most of overseas investor opportunity post-EU referendum, the chief executive of Liverpool City Council said this morning.
Speaking at a breakfast hosted by BPF at Expo Real, Ged Fitzgerald said that overseas investment was looking for a place in the UK, and northern cities could offer better long-term returns than London.
“It’s about collaboration because we recognise that in the Northern Powerhouse, we are not just competing in the UK, we’re competing on a global stage.
“Brexit is that playing field, and we’ve got the opportunity to be first on the field and grab those opportunities – and let the government deal with the challenges.”
Fitzgerald added that with a growing industrial sector in the regions, investors will see long-term growth potential in the North while London, he said “has been overheating”.
Speaking about a recent trip to Asia, Chris Taylor, chief executive of Hermes, said that political stability and the rule of law in the UK made investors optimistic.
“I was taken aback by the confidence in the UK. I would not underestimate how important the rule of law is especially for Asian investors.”
The panel urged the government to make sure the inflow of global talent into the UK does not stop after Brexit. Part of that would be retaining an open-skies policy after Brexit, Lynda Shillaw, chief executive of MAG Property, said.
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