IED welcomes Unleashing the Potential of the UK’s Cities report
The Urban Futures Commission has today published its Unleashing the Potential of the UK’s Cities report.
Full details, and a copy of the report, are available here.
In response, Tom Stannard, Chair of the Institute of Economic Development and Chief Executive of Salford City Council:
“Today’s publication of Unleashing the Potential of the UK’s Cities, a report from the UK Urban Futures Commission, sends out an uncompromising message about the importance of cities for economic and societal success. Amongst its recommendations, the proposed introduction of a new statutory duty on local leaders to generate the broadly-based prosperity of the city is one that echoes calls from the Institute of Economic Development (IED). The role of economic development in understanding the drivers of growth and the needs of communities is clear and the detailed work required requires local understanding. Without recognition as a statutory service, the importance of economic development can be under-prioritised as difficult funding decisions are made, although in the medium term a strong economic development strategy can create the foundations on which local areas can improve financial performance. In our 40th anniversary year we are keen to convert the work we have carried out to date into this solid policy outcome. At the IED Annual Conference on 7th November we will launching our manifesto calling for economic development to be a statutory function provided by local authorities, and a series of recommendations sitting within pillars which will support this, therefore the UK Urban Futures Commission’s related proposal is most welcome.”