From Leeds Market to Westminster: How One Man's Journey Reveals Britain's Investment Challenge
"My dad had a stall in Leeds Market," Lord Richard Harrington recalls with a smile. "He always used to say that Marks & Spencer started in Leeds Market and so did he. The only problem was, he was still there."
This humble beginning in a Northern market stall might seem an unlikely launch pad for a career that would span successful business ventures, parliamentary service and, ultimately, a seat in the House of Lords. But Lord Harrington's journey from market trader's son to architect of Britain's foreign investment strategy offers unique insights into the challenges and opportunities facing Northern England today.
The Business of Politics: A Tale of Two Worlds
When Lord Harrington first stepped off the Tube at Westminster as a newly elected MP in 2010, he was shaking "like my first day at primary school." Despite decades of business success and hundreds of employees under his management, the halls of Parliament proved intimidating in ways he hadn't expected.
"In business, you've got power," he explains. "I don't mean that in a dishonest way, but actually, you're responsible for people's lives. You've got your bank, you've got your people that report to you, whatever it is, you know where you are. But you have to learn the game in politics."
That game, as he would discover, often meant finding creative ways to achieve change within a system where direct power was elusive. "The only thing an MP has that a normal person doesn't have is notepaper," he notes, "and the access to people that do have the power."
The Investment Crisis: A Northern Perspective
The consequences of this complex political landscape become starkly clear when examining Britain's approach to foreign investment. Lord Harrington's recent government review revealed a troubling pattern: major investments are being lost to other countries, not primarily due to tax rates or Brexit, but because of systemic inefficiencies and policy inconsistencies.
Take AstraZeneca's decision to locate a major facility in Dublin rather than Macclesfield—a loss that prompted the review. The company's 14-month wait for an £80 million co-investment decision exemplifies the bureaucratic hurdles driving investors away. As Lord Harrington observes:
"Money's in pots and pans here and competitions, and we've set up this British business bank, UK infrastructure, it's all over the place. And then we come on to a lot of other obstacles like skills, energy, connection to the grid, planning permits—there's lots, it just makes it more difficult."
The consequences ripple through communities, affecting everything from job opportunities to local economic growth. As he notes, it's like "We start a tennis game 30-love up because people like the language, they like the fact that we do have a proper rule of law here... but by the time we get through hitting the ball into the net with all these other things..."
The Mayoral Vision: A New Hope for Regional Development
Yet amid these evident challenges, Lord Harrington sees hope in the growing power of regional mayors. He advocates strongly for increased devolution, including taxation powers, arguing that mayoral authorities provide the clear point of contact international investors need.
"I couldn't care less whether they're Labour or Conservative," he emphasises. "This is the entity I'm worried about."
However, he warns against regions competing destructively for investment, instead advocating for specialisation: "Everything's about clusters. Everything's about specialties. And it's quite reasonable for the mayor to say 'this is what we're good at.'"
The Path Forward: Five Critical Changes Needed
Drawing from Lord Harrington's insights, several key reforms emerge as essential:
Implementation of a streamlined, "one-stop shop" approach to foreign investment
Greater devolution of powers to regional mayors, including taxation authority
Development of clear regional specialisations to attract targeted investment
Faster decision-making on major infrastructure projects
Consistent industrial strategy protected from political shifts
A Call for Action
For Regional Leaders:
Develop clear specialisation strategies that build on local strengths
Build stronger connections with potential investors
Advocate for increased devolution powers
Create pathways for community engagement in investment decisions
For Business Leaders:
Engage with regional mayoralties to shape investment priorities
Partner with local authorities on skills development
Support regional specialisation initiatives
Invest in local workforce development and training
For Policymakers:
Champion consistent industrial strategy
Support greater devolution of powers
Streamline investment processes
Ensure investment benefits reach local communities
Looking Forward
As Britain navigates its post-Brexit reality and faces increasing global competition for investment, Lord Harrington's journey from Leeds Market to the Lords offers valuable lessons. Success, he suggests, often comes not from rigid planning but from seizing opportunities: "If you'd been at my 50th birthday party and you'd have said, you're going to be an MP, I promise you it'd never crossed my mind."
Perhaps this adaptability, combined with clear regional leadership and consistent strategy, offers a template for Northern England's economic future. As Lord Harrington notes, "Providing we keep moderate, and we keep stable, and we don't keep changing policy, we've got Europe, to which many countries are in turmoil. We've got America, which, whatever one thinks of Trump, is certainly in turmoil. We've a chance."
The question now is whether we can seize it.
The Path Ahead
As I reflect on Lord Harrington's insights, what strikes me most is how his journey embodies the very transformation the North itself must undertake. The pragmatic approach that took him from a market trader's son to a key architect of Britain's investment strategy mirrors the practical steps our region must take to secure its economic future.
This is precisely why I'm thrilled to announce that we're taking a significant step forward in this journey. On 24th March 2025, at St James' Park in Newcastle upon Tyne, we will be launching the Society Matters Foundation—a natural evolution of the conversations we've been having through This Is The North since 2023.
The Foundation represents our commitment to moving from dialogue to action, focusing on challenging and supporting policymakers to unlock the North's potential. We're delighted to welcome Mayor Kim McGuinness , Professor Greta Defeyter OBE and Praful Nargund of the The Good Growth Foundation as our distinguished speakers for this important occasion. The day will culminate in what promises to be a compelling roundtable discussion, where these thought leaders will be joined by the distinguished Peter George Bell and Jo Tanner Tanner, bringing together decades of combined expertise in policy, business, leadership, and transformation.
This gathering isn't just another conference—it's a convergence of innovative thinkers and doers, coming together to develop progressive policy positions that can transform the North's future. It's about taking the principles Lord Harrington discussed—streamlined investment processes, regional specialization, and consistent industrial strategy—and turning them into actionable strategies.
We have limited spaces available for this inaugural event, and I encourage you to join us for what promises to be a day of impactful conversations, meaningful networking and collaborative vision-building. You can register here.
As we prepare for this next chapter, I'm reminded of how the North has always been a crucible of innovation and possibility. Like Lord Harrington's journey from market stall to Westminster, our region's path forward may not be linear, but with clear vision and collaborative action, we can build a more prosperous, equitable future for all.
This Is The North is a podcast dedicated to exploring transformative conversations about social change, equality and inclusion in the North of England. Hosted by Alison Dunn, it brings together community leaders, activists, policymakers and change-makers to challenge systems and share knowledge that powers meaningful social transformation. You can hear Lord Harrington's full interview and explore more systemic challenges facing Northern England on the This is The North podcast, available from Monday March 10th, on Spotify, Apple Podcasts, or wherever you get your podcasts. This podcast is produced by Purpose Made, building with intention to support leaders to navigate the seas of change.
