Slough: CBI chief praises Thames Valley’s ‘Southern Powerhouse’

Slough – home to the largest trading estate in Europe – is being hailed as a “Southern Powerhouse” that deserves greater recognition.

Speaking to local business leaders and CBI members at Slough Trading Estate this morning, CBI director-general John Cridland said the town not only boasts a world-leading collection of commercial and industrial communities, it also “plays a critical role” in the economy of the Thames Valley.

He said: “The prime minister may be focused quite rightly on developing the Northern Powerhouse, but I believe a Southern Powerhouse already exists right here ....  I believe this is the story that Slough needs to be telling.”

Thames Valley, which includes the M4 corridor, is a major high-tech hub and home to global companies including: Microsoft, Dell, Oracle, Costain, Motorola and Vodafone, as well as many other small and medium enterprises.

On ensuring the voice of business is heard by politicians

Cridland said that the CBI plans to "ramp up” its engagement with new MPs, particularly in the South East, to ensure the voice of business is heard during debates, votes and legislation.

He warned that while the election result was decisive, the Conservative’s narrow majority could mean uncertainty is likely to permeate this parliament.

“We anticipate that close parliamentary votes and political trade-offs could be a feature of the years ahead,” he said, in his first post-election speech in the Thames Valley region.

“This will make it even more important to ensure the voice of business is heard during debates, votes and legislation lobbying.”

Cridland added that the CBI will also be calling for ministers to back the findings of the Airports Commission report on the expansion of Heathrow or Gatwick, which is of “critical importance” to many companies on Slough Trading Estate.

Andy Gulliford, SEGRO’s chief operating officer, said he is delighted the company’s headquarters will play to host an event where its customers and CBI members can discuss business issues with Cridland.

“The Slough Trading Estate is our biggest single asset at SEGRO,” he said. “We are fiercely proud of our 95-year heritage and the role we play in the community and across the region in creating opportunities for employment and business growth, and ultimately for the wider UK economy.

“The trading estate competes internationally to attract inward investment and businesses. One only needs to look at the range of our customers to see how the large multinational companies and small start-ups alike choose to base themselves here.”

On the importance of remaining in a reformed EU

During his speech, Cridland also urged business leaders to speak out early in favour of remaining in a reformed European Union.

He said access to the single market of 500 million customers has been “crucial for the fortunes of thousands of small and medium-sized firms” particularly in Slough.

“We’re not saying the UK couldn’t survive outside the EU, but the question is whether it would thrive.  For those advocating exit, they need to offer a credible and prosperous alternative. As far as we’re concerned, this is not on the table.”

Across the UK, the CBI speaks on behalf of 190,000 businesses of all sizes and sectors which together employ nearly seven million people, about one third of the private sector-employed workforce. With offices in the UK as well as representation in Brussels, Washington, Beijing and Delhi, the CBI communicates the British business voice around the world.

Slough Trading Estate, at 486 acres, is the largest privately-owned industrial estate in Europe. Founded in 1920 as a First World War vehicle repair centre, it now provides accommodation to 500 businesses and about 20,000 people.