The research on economic impacts and opportunities of demographic change was launched in Sheffield on 15 September, attended by the Minister for Universities and Science, Rt Hon David Willetts MP and over 80 delegates from public and private sector.
The Minister highlighted he was a “great admirer of the N8 model” and welcomed the approach for partnership working across the N8 universities as fundamental to achieving BIS objectives. These included bringing together “intellectually creative and dynamic research clusters” and opportunities for sharing research services and equipment to maximise efficiency and effectiveness.
Following presentations on the main findings from the 5 Research reports, Stephen Pegge of Lloyds Banking Group and Paul Mooney from Department for Work and Pensions offered their perspectives on the economic opportunities and the challenges to be addressed.
A range of next steps were then discussed including:
- Differences in population trends in different places across the North – requires a local, bespoke approach
- Support for businesses to understand the range of products and services that will be demanded by an ageing population – e.g. leisure, health, travel
- How can existing businesses adapt, and new start ups can emerge to respond to these market changes and opportunities
- Changes in planning policy and housing supply to respond to people living longer
- Role of universities in producing research intelligence and providing a networking role to support innovation and local and national policy makers respond to these changes
Read more about ‘The Impact of Demographic Change’ research.