The Northern Powerhouse: What does it mean?
Much has been made in recent months, especially in the run up to the General Election, about the Northern Powerhouse; but what does it really mean? Following the Scottish Independence Referendum there has been discussion on the devolution of certain fiscal powers to regional authorities in England, most notably Greater Manchester. Giving certain fiscal powers to local authorities does not create an economic stimulus, merely the opportunity to enjoy increased buying powers. Furthermore, the identification of Manchester as a lead for this English devolution creates animosity in Yorkshire, the North East, Cumbria and on Merseyside. The creation of locally elected mayors does not generate fiscal stimulus, but it does create additional overhead and expense whilst affording a single point of accountability. The government has published ‘The Northern Powerhouse: One Agenda, One Economy, One North’ the focus is on transport links supporting the city regions. This ...