The Government cannot transform the economy on its own. Business has a critical role in delivering what the Chancellor, George Osborne, calls the 'northern powerhouse of jobs, investment, prosperity and bright futures'.

There are three areas where business can make a decisive difference.

Firstly, The rhetorical endorsement by business of the principles of the northern powerhouse is an important underpinning of the promise of jobs and investment agreed by civic leaders in their business plans to the Treasury.

We should recognise that business has an important voice in the national debate. We saw worried business leaders move the needle in the Scottish Referendum with warnings about the consequences of devolution. In the recent General Election Ed Miliband demonstrated how difficult it is to win an election when you pit yourself against business. Business influence is likely to prove impactful in the proposed European in/out vote – we have already seen the CBI and JCB out of the blocks. Its role in the devolution debate will be critical.