The East Midlands will launch a new economic vision at the UK Real Estate Investment and Infrastructure Forum (UKREiiF) in Leeds from 20-22 May. East Midlands Mayor Claire Ward will lead a delegation of regional partners to outline major commercial opportunities and long-term growth plans.

The region will host an East Midlands Pavilion for the first time, providing investors, developers, and businesses with direct access to the Mayor and local investment teams. Key topics will include the East Midlands Freeport, the East Midlands Investment Zone, and the region’s appeal as a tourism destination through the Visit East Midlands initiative.

Investment showcases will highlight opportunities in Derby and Nottingham, focusing on advanced manufacturing, life sciences, creative industries, food production, and logistics.

Mayor Ward will be joined by representatives from the East Midlands Combined County Authority (EMCCA), East Midlands Freeport, Marketing Derby, Invest in Nottingham, Invest in Derbyshire, and Destination Chesterfield.

Clifton will receive £20 million in investment under the Government’s £1.5 billion Plan for Neighbourhoods, a programme aimed at long-term community regeneration. The funding was initially announced in October 2023 but was paused when the new Government took office. It has now been confirmed, with Clifton listed as one of 75 areas selected for support.

The programme focuses on building thriving places, strengthening communities, and increasing local decision-making power. The Clifton Town Board, chaired by Stephen Hackney, Pastor of Hope Church, was initially established to oversee the funding and will now be refreshed to reflect the new priorities.

Community consultation has already occurred, with residents highlighting the need to improve parks and public spaces, new community and youth facilities, long-term infrastructure upgrades, and a revitalised high street and market. The board will revisit this feedback and conduct further consultations to ensure the investment meets local needs.

Nottingham City Council leader Neghat Khan welcomed the funding, calling it an opportunity for significant regeneration in Clifton. Hackney said the board is ready to move forward with a strategy informed by local priorities and will continue to engage with the community as plans take shape.

Streets Chartered Accountants covers payroll and HR updates, company vehicle changes, payroll outsourcing, and more in its latest news roundup. Annual Payroll & HR Update 2025 – catch up! Last month Streets hosted its Annual Payroll and HR Update webinar to keep you informed of the issues, regulations and changes affecting payroll management, HR and compliance. This presentation was recorded and is now available on demand for those who weren’t able to join live. Click here to catch up. The fast approaching demise of the double cab pickup company vehicle  From the 6 April 2025 newly acquired Double Cab Pick Ups will no longer be treated as a van for the purposes of Income Tax or Corporation Tax. However the old rules will continue to apply to vehicles purchased, leased or ordered before 1 April 2025. The old rules will apply to these vehicles until the earlier of their disposal, lease expiry or 5 April 2029. Read more here. Podcast: From photography to farming – Anna Jackson’s regenerative journey In this episode of The Streets Sessions, James Pinchbeck is joined by Anna Jackson, a young farmer, entrepreneur and advocate for regenerative agriculture. Originally pursuing a career in commercial photography, Anna has since returned to her family farm where she is pioneering regenerative farming practices. Listen here. Why outsourcing your payroll to Streets is a smart move for your business Managing payroll is one of the most critical yet time-consuming tasks for any business. Ensuring employees are paid accurately and on time, complying with tax regulations and handling deductions can be complex and stressful. Many businesses, from startups to large enterprises, are turning to dedicated payroll bureaus to handle their payroll processing. Read more here. Event: Post-Spring Statement Wealth & Estate Planning Insights This is an exclusive presentation designed for individuals, providing expert insights on wealth preservation and estate planning following Rachel Reeves’ Spring Statement. Streets’ panel of speakers will provide clear guidance to help you secure your financial future. Find out more here. SmartMoney – March/April 2025 SmartMoney is the bi-monthly magazine from Streets Financial Consulting Ltd, Streets’ independent financial planning arm, full of news and helpful information on personal financial planning. Download it here.

Lichfield and Birmingham are forecast to be the fastest-growing local economies in the Midlands over the next three years, according to the EY Regional Economic Forecast. The Midlands is projected to achieve an average annual Gross Value Added (GVA) growth rate of 1.5% between 2025 and 2028, slightly slower than the projected UK average of 1.6%. Lichfield is set to record average annual GVA growth of 2% between 2025 and 2028, which would make it the fastest growing of the UK’s smaller locations and authorities. Birmingham is expected to be the joint-fifth fastest growing major location in the UK with average annual GVA growth of 1.6% over the next three years. Lichfield and Birmingham are expected to record average annual employment growth of 1.1% and 0.9% respectively between 2025 and 2028, with both above the forecast national average for jobs growth of 0.7%. Despite the level rate of economic momentum expected across the Midlands over the next three years, growth is set to diverge in 2025. The West Midlands is forecast to see GVA rise by 1.5% over the next 12 months, with a 0.6% increase in employment opportunities. Lichfield, 2.0%, Birmingham, Redditch, and Rugby (all 1.6%) are expected to be leading locations for GVA in the region, with each benefiting from a diverse range of high-value sectors. The East Midlands is forecast to match the GVA growth of the West Midlands over the next year, with employment growth marginally lower at 0.5%. Cities like Nottingham (1.6% GVA growth) and Leicester (1.3% GVA growth) are projected to play key roles in the region’s economic landscape. While growth for the regions is aligned over the next year, the East Midlands’ overall economy is currently estimated to be around a fifth (21%) smaller than the West Midlands’ when measured in GVA, meaning that overall levels of economic growth will be smaller. Sectors set to drive disproportionate economic contributions across East and West Midlands The Midlands economy showcases varied performance across sectors, with both the West and East Midlands highlighting distinct strengths and challenges. Information and communication (which involves technology-led activity) and professional, scientific and technical activities (which includes R&D as well as business-to-business services) are expected to be among the West Midlands’ fastest growing sectors over the next three years with average annual GVA growth of 2.5% and 2% respectively. By 2028, the two sectors are expected to contribute a combined £1.5bn more to the West Midlands economy than they did in 2024. Information and communication and professional, scientific and technical activities are also expected to expand in the East Midlands over the next three years, with average annual GVA growth of 2.7% and 2% respectively. However, the contribution of these sectors will be significantly smaller, generating 24% less in GVA value for the East Midlands than for the West Midlands by 2028. Construction is set to continue being a significant contributor to GVA across the region and is forecast to see average annual GVA growth of 2% across both the East and West Midlands over the next three years. This growth is expected to be supported in part by the Government’s ambition to increase housing delivery and investment in transport. Both the East Midlands (1%) and West Midlands (1.3%) are expected to see their manufacturing sectors grow in average annual GVA over the next three years. The nationwide manufacturing sector will contend with elevated energy and labour costs in the coming years and this is expected to impact the sector’s job opportunities, with manufacturing employment declining by an average annual rate of 2% in the East Midlands and 1.5% in the West Midlands. Manufacturing has been a longstanding key contributor to the Midlands’ economy, making up 13% of West Midlands GVA and 15% of East Midlands GVA in 2024. Simon O’Neill, EY Managing Partner for the Midlands, said: “The Midlands is forecast to record solid, steady growth over the next three years, driven in large part by the high-value knowledge-based sectors that have built up across the region, as well as an expected uplift in construction. “The West Midlands’ more established ecosystem of tech and professional services businesses will likely give it the edge over the East Midlands, delivering greater levels of prosperity. “Manufacturing has traditionally played a key role in the Midlands’ economy, but many of these companies are facing elevated energy and labour costs, which is impacting margins and demand for staff. “Nevertheless, manufacturing is expected to remain a major economic contributor to the region in the years ahead, particularly as the sector transitions towards advanced manufacturing. “Policymakers and businesses should consider how to ensure the Midlands can capitalise on its traditional industrial and manufacturing strengths while also building skills to fuel emerging high-growth sectors such as tech and professional services.”