PPP Management

I wrote the original article over two years ago and it is perhaps timely to look at what has happened in the intervening period. At the time of the original article the UK was about to hold a general election with the subsequent scheduled for 2020 (parliament had a fixed 5 year term).  There have been two general elections since the original article as well as a referendum on the UK's place in the EU (or not as the case is). Elected mayors and devolved powers from Westminster has changed the financial power landscape and there is more power over certain governmental budgets exercised locally.  There has yet to be signs of effectiveness resulting from the devolved financial powers, and yest the financial burden of this extra level of government has occurred. The economy has continued to boom and this is evident not only in the South East but across the entire country. Higher rents, higher levels of employment and shortages of key trained personnel continues to increase. ...

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 ...