About regeneration and economic growth

What we want to achieve

The Government believes our national economy has become unbalanced. Too much growth, wealth and prosperity are concentrated in just one part of the country, while other parts are left behind. Instead of central government prescription we are finding a more effective and sustainable way of promoting national economic growth. We are making the most of local knowledge to foster local enterprise, support local businesses and promote local prosperity.

We are putting the powers to create economic growth in the hands of local people, business and councillors. Local leaders and business will drive economic growth in their area through Local Enterprise Partnerships. This will give local government and businesses a central role in planning the economy and delivering regeneration locally. We believe that they can seize the initiative together and use their innovation, insight and understanding to transform their local area. If we can rebuild and rebalance local economies, new economic opportunities will spread across the country.

What we are doing

We will promote the radical devolution of power and greater financial autonomy to local government and community groups. We will create a fair and balanced economy, where we are not as dependent on a narrow range of economic sectors, and where new businesses and economic opportunities are evenly shared across the country and between industries.

A permissive and neighbourhood led approach to regeneration will play an important part in delivering a fairer and balanced society. Regeneration works best through the coming together of business, government and councils. The abolition of Regional Spatial Strategies and top-down housing targets, and the subsequent simplification of the planning system, will allow communities and local councils greater control and power over how their area develops. The removal of the regional tier of government, abolition of the Regional Development Agencies, and creation of a new general power of competence will all make it easier for local councils to lead the regeneration their communities need.

That is why we have asked local councils and business leaders to come forward with proposals for Local Enterprise Partnerships which will strengthen local economies, create the right environment for business to grow and rebalance local economies towards the private sector.

These proposals will establish a new and efficient approach to regeneration and economic growth that will deliver the improvement people want for there local areas and protect the most vulnerable in society.

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