Good Local Economics

Prior to the Budget there was some tension between Conservatives and Lib Dems on regional pay, with Conservatives talking about regional pay, and Lib Dems, most notably Vince Cable, talking about regional pay bargaining (the distinction matters: while nationally set regional pay rates mean lower salaries in weaker labour markets, regional pay bargaining could mean paying more to attract a quality workforce to a deprived area…).
Post Budget, things look a lot clearer – the government is talking about introducing regional pay (or pay zones with the potential to recognise pay hotspots) starting with approximately 140,000 staff in DWP, Home Office and Department for Transport. The government’s rationale is straightforward enough and set out at length in the Treasury’s evidence review to the independent pay review bodies whose work this announcement undercut.

At a time when money’s too tight to mention for most of us, is there really much value in asking communities to list which local properties they might want to buy? Yet, this is precisely what the new Community Right to Bid encourages local communities to do. And, its value is more than you think.