The Chancellor of the Exchequer, George Osborne today (27 March 2015) showcased his plans to build a Northern Powerhouse, as he visited the Wilmslow-based UK headquarters of Waters Corporation, a leading developer and manufacturer of analytical science technologies.
The visit was part of a tour of the north-west the Chancellor undertook with a delegation of senior representatives from the US House of Representatives, led by Speaker of the House, John Boehner, to highlight how the UK’s truly national recovery will help secure the continued strength of the US and UK’s economic relationship.
In 2014, US-based Waters Corporation opened its new £60 million mass spectrometry facility in Wilmslow. The facility, which was launched by the Chancellor, was designed and equipped to accelerate innovation in the field of mass spectrometry – a sophisticated analytical technique that enables scientists to measure components or contaminants present at molecular levels.
The government has supported the science and technology industry since 2010 through continued investment. This includes raising the annual budget of Innovate UK, the core innovation support mechanism for businesses in the UK, from £360 million in 2010-11 to over £500 million in 2015-16.
In last week’s Budget, the Chancellor announced further support for the sector through a science and innovation package to build on the UK’s national and regional strengths. The package includes a £400 million competitive fund for new cutting edge science facilities across the UK, as well as £140 million of national investment to take the lead in emerging markets.
The Chancellor said:
The UK and US have an unrivalled historic economic partnership and I am delighted to host Speaker Boehner and his delegation at Waters Corporation in Wilmslow – a transatlantic business that is leading the way in the science and technology industry.
Today provides an opportunity to showcase our long term economic plan to build a Northern Powerhouse that will create the right environment for businesses to grow. This will establish a truly national economy that will help secure our relationship long into the future.