ECONOMIC GROWTH

Economic development is suddenly fashionable

Given the decision to dissolve the Local Enterprise Partnerships framework, one might assume the next logical step would be to make economic development a statutory function of local government, says Nigel Wilcock.

Economic development is suddenly in vogue and, through the Budget announcements this week, the Government has indicated that it wishes to remain connected to a levelling up agenda.

Beyond the political bluster, there is also a high degree of philosophical agreement between the two main parties – the consensus is that greater levels of devolution is the only way to deliver genuine change. The Institute of Economic Development (IED) wholeheartedly welcomes this approach.

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