money matters

摘要

Levelling up is the latest buzz term. But what does it mean and what is the answer? The recent speech by the Prime Minister provided a bit more clarity on the Government's definition but that is only the start; the question.Levelling up is more than funding or GVA. It's about inequalities in pay, housing, health, employment and skills. Infrastructure and digital inclusion also play a part.But what is the solution? A recent report from the Institute for Community Studies found that interventions have consistently failed to address the most deprived communities and resulted in no change on average in the relative spatial deprivation of the most deprived local authority areas. That certainly rings true in my county area; the areas which were most deprived 20 years ago are still the same ones.A key finding in the report was that previous interventions have tended to concentrate on 'between place' but that economic strength and weakness 'within place' is most keenly felt by communities.So if the Government interventions of the past haven't worked, what will? Based on the findings in the report, a regional bid-based approach with one off funding cannot be the solution. In other words, the Levelling Up Fund. It needs dedicated and targeted revenue funding at a local level. Furthermore, it is clear no one agency can solve the problem. The relationship between tiers of local government and our partners including the police and health is key. Local government is best placed to be co-ordinating the approach and mandating a board or forum to drive this agenda in my mind is essential.