What a Northern Powerhouse in Yorkshire means to: KPMG’s North Region Chairman, Chris Hearld

As Bdaily’s Northern Powerhouse series continues to give the business people of Yorkshire the opportunity to voice their opinions on the the government’s Northern Powerhouse initiative, we speak with Chris Hearld, KPMG’s North Region chairman.

Chris leads the professional services firm across the North and is based in Leeds where he has spent much of his career. Chris is a founding member of Business North, a group recently launched to provide a pan North business perspective on the Northern Powerhouse.

Hi Chris, so what do you think the Northern Powerhouse will do for Yorkshire?

I have no doubt that a better connected, more highly skilled and prosperous Northern economy, will propel the Yorkshire economy.

Forming part of a Northern Powerhouse would provide many regional positives from competing more strongly on global stage for investment by pooling the offering of all the Northern cities into one compelling proposition, to having a more flexible and effective labour market, better matched to the skills demands of the private sector and to the strongest opportunities for wealth creation.

What will the Northern Powerhouse do for KPMG?

To give just three quick examples:

1 - When the regional economy is prosperous, there is more growth and change in the market and this creates a greater and more interesting pipeline of opportunities for KPMG, in terms of advising clients on achieving their ambitions.

2 – I lead a pan Northern business, but one which doesn’t fully and flexibly operate as one team across the North, in large part due to a lack of connectivity between the five offices and two hubs from which we base ourselves. If travel time between the cities and towns of the North is reduced my team would be even more joined up and therefore more effective and efficient.

3 - Attraction of talent. An increasingly lively economy, with exciting employment prospects, an appealing lifestyle offer and good transport links within the North and with the rest of the UK and beyond, will attract a greater number of ambitious and skilled individuals to live and work and in the North, as opposed to elsewhere, such as London. The ability of my business to attract talent would certainly benefit from a broad magnetic pull factor and specifically increased confidence on the part of young wealth creators that there is the opportunity for fulfilling and challenging careers in the North.

Has the government done enough to convince you of its commitment to Osborne’s vision?

Not yet. The commitment to funding change and improvement has significantly lagged the rhetoric. However, this spring’s Budget did allow for some exploratory investment in critical transport infrastructure and there has been funding allocated to skills, tech and entrepreneurial support. It’s too little to achieve substantive shifts but it represents a start point.

Connectivity has been a major driving force behind the Northern Powerhouse. Do you believe that spending billions of infrastructure will improve the economic climate in the North?

Absolutely, as outlined above. The cities that primarily drive the North’s economy must be better connected to allow labour, goods and investors to travel quickly and conveniently within the North, as one market.

What, if any, other sectors/industries should the government key in on to achieve a Northern Powerhouse?

Those with the greatest potential to influence future prosperity so, to some extent, but not necessarily exclusively, technology, health, education.

Are there any other areas which you believe money should be spent on, ahead of transport?

No, for me, transport is the number one enabler for business.

As with Sheffield, should the other regions in Yorkshire try to strike a devolution deal with the government?

Yes, devolution has a role to play in the success of the Northern Powerhouse. By devolving important decisions to strong city region leaders, the constituent parts of the North would be empowered to collaborate. And fundamentally, the concept of decision making closer to the citizens and businesses impacted, makes sense.

Will the Northern Powerhouse be realised in Yorkshire?

I truly hope so; am committed to KPMG playing a role in its achievement; and believe it is more likely than at any previous point.

Thank you Chris.

Don’t miss our latest Northern Powerhouse coverage here. To nominate a Yorkshire business leader to be part of our new series, contact Nick at nick.hill@bdaily.co.uk.