Time for a multi-centred national economic growth strategy

When there’s less finance to go round, it stands to reason it must be used more efficiently; but that’s not just about creating savings, its also about getting the best return you can on your investment.  

Forecasts undertaken for Core Cities LEP areas (‘Our Cities, Our Future’, 2011) have shown that an additional 1million jobs and £44billion economic output could be achieved in our cities within the next decade.  This is dependant on a number of growth factors, some of which are global influences, but others are more local, including a decentralised approach to investment, for example for infrastructure, targeting it where it will get the best results.  

The Localism Bill offers an opportunity to back up the debate on localism with real action, creating a binding narrative around other localist and decentralising ideas, delivering a distinctive set of urban policies and empowering cities to drive private sector growth and jobs.

The Bill makes provision for further ministerial delegation to the Mayor of London.  Other major economic areas need the same opportunity, to be able to drive growth and prosperity for their businesses and residents and for the wider national economy.

Though the abolition of the LDA has in part driven this section of the Bill for London, other cities and Local Enterprise Partnerships face similar, if not more critical issues following the restructuring of the national economic development architecture.  It seems vital that not only are other cities treated in a way that is constitutionally fair and consistent at the national level, but that this route to delegation is available to them to create much needed investment, jobs and growth.

The country needs London to do well, but to create an equitable, multi-centred national economic strategy the same chance needs to be given to other areas that are capable of growing employment, and we are working to table and amendment to the Localism Bill that would allow other places this chance.   England needs a truly national economic policy.