Progressive economic development has the local population’s health and wellbeing at its heart, says Marvin Rees
The consequences of welfare reforms, structural changes to both the public sector and industry, the growth in zero hours contracts and cuts to core public services are leaving an increasing number of people worse off and deeply worried about their and their children’s present and future.
Without careful consideration, the reliance upon commercial real estate could lead to a period of overbuilding where development, financial markets and local authority officers operate in overdrive to build new income-generating structures in order to repay loans and capture value.
Rather than ameliorating spatial inequality, the business rate retention strategy potentially exacerbates uneven development. Consequently, our findings suggest that the centralised national economy could be replaced by an equally divisive city based one, where a minority of locations are dealt all of the aces while the rest get a raw deal.