Last week’s Comprehensive Spending Review appears to leave the funding and strategic cupboard for the function of local economic development looking pretty bare. Gone are the special initiatives and programmes which have characterised the last ten years. Gone are institutional vehicles and quangos such as Regional Development Agencies which have driven activity. Gone are the managerialist approaches to target setting and monitoring processes. Going is a degree of core local authority funding through the 7.1% annual decrease in revenue grant to local government. Also going is some of the welfare and social housing support for the most vulnerable in society.
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