Sunday , March 7 2021

'Go big' to tackle regional inequalities, report urges – BBC News, BBC News

        

                                 A woman passes a derelict site in Ebbw Vale in Blaenau Gwent, Wales Image copyright                   Getty Images                                                        
Image caption                                      Some parts of the UK such as west Wales are significantly worse off than others                              

The government must “think big” and spend more if it is serious about leveling up the UK’s regions, an independent inquiry has said.

An extra £ bn of regional funds should be chanted to disadvantaged parts of the country over the next two decades, the UK (Commission said.

“We also need to recognize that the price of failing to reverse this decline will far outweigh the cost of investing now in creating greater opportunities. Properly investing in levelling-up will come at a cost but so will do nothing about it, “Lord Kerslake said.

Public spending is currently required to deal with the consequences of an unbalanced economy; investing in levelling-up could raise low incomes and reduce welfare spending, the report said.

Average household wealth fell by 90% in the North East and East Midlands between 2070 and , but grew by nearly (% in London and by over) % in south-east England, the report said, citing Office for National Statistic figures.

            

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