The Chief Executive of Birmingham Chamber of Commerce Paul Faulkner says that 2016 can still be a positive year for the city’s economy.
Paul Faulkner made the comments after the Chancellor George Osborne warned the UK faces one of the toughest years since the financial crisis.
Anyone who thinks it’s mission accomplished for the economy is making a mistake – 2016 is mission critical
— George Osborne (@George_Osborne) January 7, 2016
The warning comes only 6 months after the Chancellor’s Autumn Statement back in November when he said that the the UK economy was growing fast.
Paul Faulkner sees the Chancellor’s comments as a caution, because elements of austerity are needed in the country as a whole.
In Birmingham, however, there are indicators that show the continuous success of the city, like the work being done around Paradise (Circus) or the HSBC new HQ, that will start to take shape this year, said Faulkner.
“There are lots of reasons why we should still fell very positive, but there is no harm in taking notes about what the Chancellor says.”
This increase can be explained because companies are looking for opportunities to locate parts of their businesses outside London.
Faulkner said that is as a big deal for Birmingham.
“It’s not only the price of office space. For businesses, it is also important the staff. For the price of a small apartment in London, you will buy a nice family home around the West Midlands, a fantastic place to live.”