Economic Devolution.
Right from the start of my brief economic development career I have been passionate about genuine regional economic devolution. We remain one of the most centralised countries in the world. I think my second question at PMQs was urging the Prime Minister to speed up delivery of the Regional Assemblies! Sadly, that policy came to nothing. But in recent years Mayoral authorities have captured the imagination.
If you look at many successful similar economies, the regional disparities are less obvious because of genuine regional economic power and devolved government.
Over the coming months and years however, devolution and levelling up will be a large part of our national and local conversation. Of course, there are geographies, personalities and politics involved so the skill is to work through this together to find a common solution.
Indeed, it is already dominating quite a lot my energy at the moment at the LLEP and across the political and business sector in Leicestershire. I believe our role is to help people, and business to weave through the complexities and timelines and understand just what it might mean for us!
I also am grateful to see the Labour Party (UK) and Rt Hon Rachel Reeves articulating the argument for GREATER devolution of economic powers. Still too many plans give us new structures but old ways of 'bidding' into central government through limited funding pots. Hopefully a proper debate and conversation can help us gather political consensus .
I do intend to update thoughts about the opportunities and the barriers that exist for Leicester and Leicestershire regularly. I have been committed to a proper economic and political devolution all my life and it may just be within grasp.
But there is some way to go and a lot of hard and sensitive work to be done, and patience will be required. Watch this space as business leaders working with local authorities navigate - with government - a pathway for Leicestershire!
Resources:
Good Growth for Cities: Taking action on levelling up (pwc.co.uk)
Devolution explained | Local Government Association
CBP-8599.pdf (parliament.uk) Devolution Explained - HoC Library
LocalGov.co.uk - Your authority on UK local government - Reeves to make case for economic devolution