Give us the tools to fly

EXPECTING frequent episodes of political and economic turmoil seems to have become the new normal for business leaders in the West and beyond.

Appeals to Government to deliver stability have gone unheeded for so long many have simply stopped asking for that most basic of wants.

Indeed, many businesses have sadly accepted the reality that it might be some time before we see the return of ‘cheap money’ and stable investment conditions, but are nevertheless getting on with providing the growth we so desperately need.

Constant headlines about economic turmoil and cost-of-living crises – while accurate – in many ways have masked some of the fabulous success stories of innovation and growth that are happening on a daily basis across the region.

The Western Daily Press Business Guide 2023 is packed with examples of pioneering West firms that are thriving across the sectors that will power our collective futures.

Only last week, for example, at an airfield in rural Gloucestershire, the journey towards potentially realising zeroemission flights took a huge step forward.

ZeroAvia staged a successful test flight of the world’s largest aircraft to be powered by a hydrogen-electric engine.

The 19-seat Dornier 228 took off from Cotswold Airport at Kemble for a tenminute test flight that could one day be seen as a significant moment in the West’s rich aerospace history.

While it was only a short flight, it has certainly excited aviation analysts.

Val Miftakhov, founder and CEO of ZeroAvia, said: “This is a major moment, not just for ZeroAvia, but for the aviation industry as a whole, as it shows that true zero-emission commercial flight is only a few years away. The first flight of our 19-seat aircraft shows just how scalable our technology is and highlights the rapid progress of zero-emission propulsion.”

Aerospace is a vital sector for the South West’s economy, supporting tens of thousands of well-paid jobs and this is only one example of the exciting work being done in civil and defence fields.

Defence too plays a major role for this region’s workforce and while, for obvious reasons, the companies in that sector don’t shout about it, business has been brisk since Russia invaded Ukraine.

Defence ministries across the world have been keen to upgrade systems such as missile defences, meaning healthy order books for defence contractors.

Other firms across the region in a variety of sectors of the economy continue to deliver jobs, growth and great opportunities for young people to have meaningful careers.

Our headline sponsor – EDF Energy –has trained more than 1,000 apprentices while constructing Hinkley Point C in Somerset.

We couldn’t produce this Guide without the support of EDF and our other sponsors – Grant Thornton, GWR, SGS, Truespeed, Renishaw, Hunter Selection and our data partner Vistra – all of whom play vital roles in the West’s economy.

Particular congratulations go to Renishaw, which will later this year mark its 50th anniversary – it is exactly the sort of home-grown success story that the West should be most proud about.

Over the past half a century it has weathered all sorts of storms to emerge as one of the region’s great companies.

While businesses of all stripes are dealing with the realities they face, it is undeniable that 2023 will be challenging for many, particularly for those on the high street and in hospitality.

Politicians – both at Westminster and here in the West – should focus on what they can do to support these sectors.

It is likely that 50 years from now historians looking back at 2022 will shake their heads at what was an extraordinary year in Britain.

For a country that long took pride in its stable institutions, it truly was a year that shocked.

Who thought they would ever see the year where Britain had three Prime Ministers and four Chancellors of the Exchequer?

And all of that falling fast on the heels of the ongoing unresolved saga of Brexit, the coronavirus pandemic, war in Ukraine, crippling energy price rises and the unwelcome return of high inflation and interest rates. Businesses have seldom had to tackle so many negative external factors.

We can ill-afford another year of political navel-gazing.

Prominent voices have rightly called on the Government to focus on the issues that truly matter. A return to fundamentals and aspiring to grow the economy are a must for Rishi Sunak.

In an intervention earlier this month Wiltshire-based billionaire entrepreneur Sir James Dyson warned that growth should not be seen as a “dirty word”, accusing the Government of a “shortsighted” approach to business.

He was right to do so.

Sir James said: “We can turn things around, but only if fast-growing companies are allowed to thrive here. And we will have to act fast – it’s a global race and our competitors are hungry. The Government has a role to play. Starting with the spring Budget in March, it must incentivise private innovation and demonstrate its ambition for growth.”

His words were echoed by Tony Danker, the head of the CBI.

In a recent speech he said: “Growth still matters. Let’s stop second guessing ourselves and get on because there is money on the table to capture right now.”

He argued that “our international competitors in Europe, Asia and the US are going hell for leather on green growth and getting firms investing”.

These are the messages that Mr Sunak should be listening to, not some of the trivialities expressed by those stoking unnecessary ‘culture wars’ that are dominating his time and the political agenda.

Workers in the West are highly-skilled, creative and possess an entrepreneurial spirit that can provide our region a prosperous future.

It really isn’t too much to ask that our MPs spend 100 per cent of their time delivering the economic conditions that help rather than hinder that goal.