March 25, 2021
This report from UK think tank the Centre for Progressive Policy provides their quarterly levelling up outlook.
Centre for Progressive Policy’s latest levelling up outlook reveals the government’s key policies for economic recovery will benefit London over the rest of the UK, which is bad news for levelling up.
CPP has analysed the impact of the new super deduction scheme, which was proposed to deliver levelling up through construction and manufacturing. The analysis suggests the scheme offers little in the way of levelling up; based on pre-crisis rates of business investment in machinery and equipment by sector, London is likely to receive the biggest tax break per head
CPP’s Levelling up outlook also examined the Levelling up Fund, Towns Fund and Community Renewal Fund. This analysis revealed that 6.5 million people living in deprived local authorities will be excluded from these policies.
These poorly targeted recovery policies come after big spending to avoid London’s levelling down during the pandemic. CPP analysis of spending per head on key emergency economic measures suggests spending has been much higher in the capital than in other regions.Read Full Report
By Jonathan Cribb; Tom Waters; Thomas Wernham; Xiaowei XuRead more