I can't lie, after watching the markets react to the mini-Budget, writing about the Government's investment zones plan feels like debating the colour of the panelling on the Titanic.

But there's a serious point to discuss here, and that is, what might these new investment zones mean for a North East devolution deal?

We already have a Mayoral Combined Authority covering the north of the region. It's successful; despite the pandemic, we're far ahead of all the targets the Government set us. We've created 14 years' worth of jobs – in just three and a half.

In that time, we've been working collaboratively – north and south of the Tyne – to get an expanded deal that works for the wider North East. A deal with billions to invest in jobs, homes, skills training, and much more. It means greater control over things that matter to people – such as transport. It puts tackling inequality at its centre. It means we can take a stronger stand against the environmental crisis.

There are always comings and goings in Westminster and Whitehall, but I've worked with six different local government ministers in that time – plus different transport, education, BEIS, DEFRA and Treasury ministers – to get a draft deal ready. And though I'll never think it is enough until we get something like Scottish Devo Max, as English devolution deals go, it's an excellent deal with zero-carbon, zero-poverty policies running through its DNA.

But will the much-trumpeted investment zones cut across what we're trying to achieve? The North of Tyne Combined Authority is always up for a new scheme that boosts growth and improves residents' lives. But whether it will work depends on one thing: is the Government investing more or less into the North of Tyne than it was before?

I've never heard any government say they don't want growth. But wishing for growth is not enough; it needs a deliverable plan. I speak to hundreds of business leaders, and I've never once heard anyone say: ‘I'd invest more, but the fact that I pay tax when I'm profitable is stopping me.' What I do hear, pretty much every time, is: ‘I'm finding it hard to recruit skilled staff' or ‘we need better transport links'.

The keystone of our proposed devolution deal – and, indeed, what will be our investment zone proposition – is our region's shift towards low-carbon energy, creating thousands more jobs in the process. We're home to the world's largest offshore windfarm at Dogger Bank as well as growing expertise in electrification and battery technology. We want to build on the private sector leadership we've seen through our ‘Tyne Taskforce' – supporting our offshore and clean energy assets. We want to lower barriers for businesses, reduce bureaucracy, and boost growth. We want to ensure our companies can attract the necessary skilled workers they need, and that low-bureaucracy visas mean these employees can move between sites across the globe.

And we're succeeding already. In the three years since our current devo deal became operational, the North East has become the number one region for inward investment, along with thousands of jobs in the pipeline from scale up of indigenous businesses. We work closely to target the investment into what they need – facilities, access to plant, assistance in winning orders. We work closely with residents, universities, colleges and independent training providers to get tens of thousands of people the skills they require to land a well-paid job.

So yes, I'm pleased to be speaking to the Government about developing investment zones. These could be a good thing. But we must not do this at the expense of the environment or workers' rights. In a race to the bottom, nobody wins. Early assurances from the Government indicate they will not weaken environmental protections, and we're seeking clarity on a number of other questions.

The North East is one of the most beautiful places in the country – in the world, even – to live and work. If investment zones are to enhance that, they will need to be designed with the people and institutions that are already turning our region around.

Jamie Driscoll is Metro Mayor for the North of Tyne Combined Authority

@MayorJD @NorthTyneCA