NEWS REPORT PREDICTS BILLION POUND BOOST FOR BIRMINGHAM’S ECONOMY £27bn. The city is also set to improve its employment performance, rising to 7th in the report’s league table and delivering over 24,000 new jobs. Eight of the top 10 fastest growing cities in the UK by Q4 2023 are expected to be located in the South and East of England, with Birmingham and Edinburgh the only two outliers. The report highlights several factors behind Birmingham’s strong performance, including major projects like HS2, plus a regional housing boom fuelling a burgeoning real estate sector.
A new economic report predicts that Birmingham is set to see its economy grow by £1bn by the end of 2023, bucking the trend for the most successful cities to be found in Southern England. According to Irwin Mitchell’s UK Powerhouse report, produced by the Centre for Economics and
Business Research (Cebr), Birmingham delivered 6.9% GVA* growth in the 12 months to Q4 2021, placing it 7th out of the best performing cities in the UK for economic output. By the end of 2023, Birmingham is one of the few cities outside of the South to retain its position, remaining 7th for growth, with year-on-year GVA of 2.3% and an economy worth
Significantly, the West Midlands is also the highest placed northern region for attracting Foreign Direct Investment (FDI)** , a factor the report highlights as a vital component for economic growth enjoyed by cities in the South and East of England. For the government’s levelling up agenda to be successful, the report makes clear that other regions need to lure more FDI to their cities to compete with their southern rivals. Cities like Birmingham are proof that with the right conditions, growth in FDI can be achieved.
SHAKESPEARE MARTINEAU SUPPORTS MUSLIM YOUTH MENTORING SCHEME they face as people of faith. Initially centred in Birmingham, those first 100 businesses will take part in the scheme championed by Shakespeare Martineau in partnership with Mercy Mission’s ‘Faith in Our Cities’ initiative. Speaking at the recent launch event, Azim Kidwai, CEO of Mercy Mission UK, urged business leaders to find out more about the youth empowerment programme and shift the dial domestically for a generation of young people, marginalised through lack of cultural understanding and fit for purpose employment opportunities. Shakespeare Martineau is supporting British Muslim charity Mercy Mission UK in launching a new mentoring scheme. 100 local businesses across Birmingham will take action to help young people from across the region, improving their life chances through confidence and resilience building. The scheme will offer mentoring and work experience placements to Muslim youth across the city directly tackling the long term inequities
Mohammed Saqub, partner at Shakespeare Martineau and head of Islamic finance, said: “It’s estimated that 17% of UK prisoners are Muslim, despite Muslims making up just over four per cent of the UK population. “A core challenge is that there is an issue with young people heading for a life of crime, as they see little alternative in their future or simply not fulfilling their true potential. Increased mentoring – especially from people who speak and look just like them and share the same cultural heritage – could make
all the difference in the path a person chooses to follow. When I was at school in the centre of Birmingham, I was influenced by a lawyer who came into our school to talk about what he did. Without him, I’m not sure whether I would have chosen this path – his mentoring opened-up possible options for a career and I am passionate about doing the same for others.” Spearheading the scheme is local civil society leader Jehangir Malik OBE, from Mercy Mission UK. He said: “We are really excited about launching this new scheme and are very optimistic by the initial response we’ve had from diverse local businesses in Birmingham. “The project is co-created by young people and local businesses as part of an intergenerational approach to strengthening British Muslim civil society. We recognise the untapped potential of British Muslim youth and the positive role they can play in shaping and enriching our society. For more information about the Muslim Youth Connected Futures Programme, please visit mercymission.org.uk or get in touch with jehangir.malik@ mercymission.org.uk.
