Regional Inequality Highlighted
New data reveals that London receives nearly double the investment in infrastructure projects compared to the rest of England. On average, the capital receives £6,058 per person, while the rest of England only receives £3,316. This stark regional difference highlights the ongoing challenge of achieving true "levelling up" across the country.
Levelling Up: A Concept Introduced by Prime Minister Boris Johnson
During the 2019 general election campaign, Prime Minister Boris Johnson introduced the concept of levelling up with the aim of reducing regional inequality. However, a report by the Purposeful Finance Commission suggests that more needs to be done to connect private investors with communities. One significant barrier identified in the report is a lack of expertise in councils among planning and regeneration teams.
Time-Consuming Planning Regime Blamed
The report also points to the time-consuming planning regime as a hindrance to infrastructure development. Developers spend four times as long obtaining permission to build as they do constructing a project. This delay further exacerbates the regional inequality in investment and development.
Camden and City of London Area Stands Out
In terms of investment performance, the Camden and City of London area stands out with investment levels nearly seven times the national average. This highlights the concentration of infrastructure investment in certain areas, leaving others behind.
Government Announces £1 Billion Levelling Up Funding
Last month, Chancellor Rishi Sunak announced £1 billion of levelling up funding for 55 towns, to be distributed over the next decade. Each area will establish a board comprising businesses, councils, and community leaders as part of the Long Term Plan for Towns. Sunak stated that towns had been overlooked in favor of cities, and this funding initiative aims to rectify that.
Government's Mission to Prioritize Levelling Up
The report's significance is underscored by a Whitehall source, highlighting the government's mission to prioritize levelling up in the lead up to the next election. The aim is to bridge the regional inequality gap and ensure that all areas of England receive fair and equal investment in infrastructure projects.
