A think tank has called on the Government to invest £14.5bn to build ‘city innovation zones’ in Birmingham, Glasgow, and Manchester in order to boost the tech sector.
A new report from Centre for Cities has found that 60% of advanced technology firms in the UK are concentrated in London and the Greater South East.
It warns that cities outside of the South East are ‘missing out on vital economic opportunities and thousands of high-skilled jobs.’
The think tank argues that in order to ensure new jobs in the science and technology sector are created in other parts of the UK, the Government should invest £14.5bn in building new economy districts in Birmingham, Glasgow, and Manchester.
Centre for Cities chief executive Andrew Carter said: ‘Supporting the growth of the new economy will be essential to ensuring the UK’s future success and by offering access to skilled workers and knowledge sharing between firms, city centres will have a big part to play in this.
‘The Government has high ambitions for Britain to be a world leader in innovation but achieving this will rely on a clear plan with substantial funding from Westminster. Investments in skills, regeneration, and infrastructure will all be needed to ensure we can attract leading businesses to cities across the UK and reap the rewards of success.’
