|This centre is a member of The LSE Research Laboratory [RLAB]: CASE | CVER | CEP | SERC | STICERD||Cookies?|
Paper No' CEPEA025: | Full paper
Save Reference as: BibTeX File | EndNote Import File
Keywords: UK cities; urban economies; recession; #ElectionEconomics; spatial equilibrium; labour; housing market; wages; regional disparities
Is hard copy/paper copy available? YES - Paper Copy Still In Print.
This Paper is published under the following series:
Share this page: Google Bookmarks | Facebook | Twitter
Abstract:There are large variations in economic performance across UK cities and on some measures, they have widened since the global financial crisis. All main parties promise action to reduce them, but there is little difference between them in terms of the policies that they would pursue to meet this objective. Unfortunately, the traditional policy mix is largely ineffective. There is a growing recognition that greater local control is needed to improve policy effectiveness, although there is disagreement about the form this devolution should take. London’s strong economic performance plays a large part in explaining widening disparities. Providing an effective counter-balance to London may require policy aimed at ‘rebalancing’ to be more spatially focused – for example on Manchester. Concentrating resources in this way is controversial and difficult for constituency-based politicians (in both central and local government). It is helpful to remember that we ultimately care about the effect of policies on people more than on places. Efforts to rebalance the economy should be judged on the extent to which they improve opportunities for all, rather than whether they narrow the gap between particular places.
Copyright © RLAB & LSE 2003 - 2020 | LSE, Houghton Street, London WC2A 2AE | Contact: RLAB | Site updated 11 July 2020