IT MAY seem a bit dull, but an event in Brussels tomorrow will have a direct bearing on the lives of everybody who lives in Merseyside.
The newly-appointed European Commissioner for the Regions, Johannes Hahn, is holding an inquiry into the future of regional economic development policy in post-Lisbon Europe.
The debate will be wide-ranging, including whether there should be a regional policy at all and, if so, whether it should be administered by Europe or by national governments.
Make no mistake, it is Europe’s intervention in this region that has driven so much of Merseyside’s regeneration in the past decade or more: the Echo Arena, the growth of Liverpool John Lennon Airport and Speke’s Estuary Commerce Park, among others. Over a period of two decades, some £2bn of European money has been allocated to Merseyside.
Brussels money didn’t create the market for no-frills air travel, but it meant JLA was helped to become attractive as a hub for both EasyJet and Ryanair.
While Merseyside is no longer an Objective 1 area, the North-West’s Objective 2 status means Brussels money will help us continue with the further economic development of our region.
In contrast to Europe, Britain’s attempt at a regional policy of its own has struggled to make an impression ever since plans for elected English regional assemblies were scrapped more than 10 years ago.
Britain’s prosperity remains concentrated on the South-East. In this election year, it is up to our local politicians to push the idea that Britain needs to do more for places like Merseyside, where the job of social and economic development is still only partly completed. You only need to look at Central Docks, Anfield and Kirkby town centre to see that.
AN ENGLISH Premier League club could collapse this year. That’s not my prediction, but that of former Birmingham City owner David Sullivan during a radio interview yesterday.
Mr Sullivan has been busy taking a close look at other English clubs ever since he sold his stake in Birmingham to Hong Kong businessman Carson Yeung last year. He now believes that many clubs have put their future in jeopardy by borrowing more than is wise.
Whether Mr Sullivan has looked at either of Merseyside’s big two is not known, but neither of them is likely to be top of his list of clubs that could go bust this year.
That’s because Everton and Liverpool have not gone too far when it comes to borrowing money. Everton’s debt is relatively small and the interest payments due should be easily met. Liverpool has heavier debt, but this was refinanced just last year and the club has big revenues and should be able to cope.
But neither club will be able to stretch their finances any further,. otherwise they would be venturing into risky territory. For that reason, the two clubs won’t be building new grounds or significantly boosting player spending any time soon.
The prevailing belief that promises have been broken and hopes dashed, which led to the exchange of emails between Liverpool fan Stephen Horner and Tom Hicks Jnr this week, will remain for years to come. For that to change, new owners will have to be found for both clubs, and fans need to get used to the idea that these people aren’t thick on the ground.
