United Kingdom | Cities & Regions: The UK Levelling Up White Paper is welcome but changes little

The Levelling Up White Paper contains nothing to cause us to revise our forecasts for the UK’s various nations and regions, let alone the UK as a whole. It contains many fine sentiments but little that is new or significant. We forecast that southern regions will outpace all others, 2022-30.

What you will learn:

The White Paper needs to be seen in the context of large reductions that have been seen over the last decade in the share of government spending allocated to poorly performing regions.
Historical and international experience suggest that even when resources committed are large, bringing about regional convergence is difficult.
The promise of further devolution is welcome. But again, experience suggests we should be cautious about what to expect.

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