The Autumn Statement is an important opportunity to bolster the UK economy and to provide the conditions for growth as it continues on the path to recovery. Cities, home to over half of all businesses and responsible for 60 per cent of the UK’s gross domestic product, must be at the heart of this strategy.
2012 has seen a growing and welcome emphasis on cities as drivers of economic growth through policies such as City Deals, but more needs to be done. As Lord Heseltine highlighted, too many decisions are taken in Whitehall and no one is tasked to look at issues holistically. Greater devolution to cities makes it more likely that investment will be directed to projects able to quickly deliver jobs and growth. TheAutumn Statement is an opportunity to make the most of cities’ economic potential.