The UK2070 Commission has published ‘The First Report of the UK2070 Commission: Fairer and Stronger – Rebalancing the UK Economy’.
UK2070 Commission writes:
Our First Report states that the regional inequalities which blight economic performance and life-chances in the UK may become significantly worse unless drastic action is taken. Whilst London and the South East of England confront increasing pressures on living costs and resources as they soak up most of the UK’s job growth and productivity, our report argues that many people and businesses outside of these areas are likely to miss out on the benefits of growth.
Our report estimates that more than half of the new jobs will go to London and the South East when it makes up just over a third of the population. To tackle regional inequality, the UK2070 Commission proposes:
- Much greater devolution of powers and funding, including the creation of four new ‘super regional’ economic development agencies.
- A spatial plan to guide the future development of the whole of the UK.
- Action to harness new technologies and strengthen local economies.
- Long-term investment through a new National Renewal Fund which would rebalance the economy over a 25-year period….
