Mayor taps economist to turbo-charge £2.4bn infrastructure investment
Mayor Richard Parker has appointed leading economist Bridget Rosewell CBE to advise on the region’s £2.4 billion transport upgrade.
Transport for City Regions investment programme is a central part of the recently launched West Midlands Growth Plan.
Rosewell brings heavyweight experience
Bridget Rosewell is one of the UK’s most respected infrastructure economists. She has served on the National Infrastructure Commission and advised on major national projects including HS1, HS2 and the Elizabeth Line.
Her appointment is intended to provide independent scrutiny and ensure that every major project in the West Midlands is delivering the best possible economic benefits.
Stretching every pound further
The £2.4 billion funding package covers a wide range of projects, from road and rail improvements to cycling infrastructure and public transport upgrades. Rosewell’s review will look at how the money can be maximised, aligning investment with local needs and exploring ways to attract private capital alongside public funds.
Mayor Parker said: “This is about making every pound work harder for the people of the West Midlands. We can make that £2.4bn go further if we explore creative ways to deliver infrastructure and use mechanisms like tax incremental finance. That would mean we use the initial fund to catalyse billions more and crowd in private investment.”
Quick turnaround expected
The Rosewell Review is already under way and will report to the West Midlands Combined Authority (WMCA) Board before the end of the year. It will set out a portfolio of major investment opportunities, review current and planned projects to ensure they meet regional priorities, advise on use of the £2.4bn Transport for City Regions allocation, and recommend new ways to plan, finance and deliver infrastructure.
Expert eye for growth
Ed Cox, Interim Chief Executive of the WMCA, welcomed the move: “Bridget’s advice will help us build transport infrastructure that not only moves people, but also powers business expansion and housing development, to create a more prosperous future for all of our communities.”
Bridget Rosewell said she was pleased to support the region: “Facilitating private investment and supporting appropriate public contributions to their best effect is very important to the future of the UK economy and I hope this review will help.”
Showcasing regional ambition
The Investment Prospectus produced by Rosewell will be presented to some of the world’s largest investment funds at the Government’s Regional Investment Summit, due to be held in the West Midlands this October. The event will be hosted by Mayor Parker alongside Chancellor Rachel Reeves and Business Secretary Jonathan Reynolds.
The Transport for City Regions fund will be delivered over five years from 2027, with the Mayor insisting that the region is well placed to use the funding to drive jobs, growth and homes, as well as better transport for local people.
