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Local power looks at how Metro Mayors can shake the UK out of its productivity slump.
Quick summary
- The UK is faced with an unprecedented productivity crisis, which is damaging the economy and living standards. This isn’t a problem that impacts every part of the UK equally – some areas have very high productivity, whilst others are very low.
- This paper argues that Metro Mayors are often best placed to identify and support measures which increase productivity. Therefore, the government should empower Metro Mayors to deliver this role.
- Areas without a Metro Mayor must not be left behind. Proposals such as County Deals are a step in the right direction but need to be accelerated and improved to present a genuine alternative.
- In particular, the government should ditch the “earned confidence” approach to promote a direct link between areas coming up with good ideas and economic improvements. Mayors should be given greater powers and funding, but this must be balanced with safeguards on public money.