Think-tank: ‘Give city regions powers over prosperity fund’
0Powers over allocating funds from the UK’s replacement for European Union structural funding should be devolved to city regions, according to a think tank.
In a report on the proposed Shared Prosperity Fund, the Institute for Public Policy Research said “Combined authorities are the sensible model for this as they already have responsibility for many of the place-based elements of industrial strategy, including economic development, regeneration and local transport services.”
The report also called for the creation of a dashboard of economic well-being indicators to better capture regional inequality.
It said: “The process for deciding the precise methodology for distributing the funds should involve a range of stakeholders and voices, including consultations with local government, community groups, and the public.”
