Forget local government reorganisation and financial reform and concentrate on growth, Lord Heseltine told The MJ Growth Agenda conference in London this morning.
‘Don't go for structural change. Don't touch it, you'll spend too much time on it.' He added: ‘I have spent more time on finance than most people have had hot breakfasts.'
Instead, the Government's growth guru suggested local authorities should concentrate on creating ‘wealth-creating partnerships.'
He told delegates: ‘It is about trying to create a model of economic dynamism. That is not rocket science, it is how all the cities in the world do it.'
Former deputy prime minister, Lord Heseltine, also encouraged councils to use the levers they have got, to step in when schools and housing estates are failing. He also urged them to use the power of their pension funds as a lever to work with banks.
As author of his report on growth, ‘No Stone Unturned', Lord Heseltine said he had received lots of ‘kind words' on the report, but was yet to see anyone acting on it.
He suggested the biggest problem local government faces is that central government does not think it is good enough. ‘You have got to counter the argument "they will screw it up again".'