Beyond following the money: How to deliver local finance and investment for sustainable place-based development?

Insights North East Long Read, July 2024

By: Louise Kempton and David Marlow

If the next UK government is to prioritise step-change improvements in the resourcing of place-based development, what types of reforms need to be put in place, and how can local and regional institutions improve their capacities and capabilities to make the most of them?

This paper draws on research and practice discussed at a 2024 Insights North East seminar exploring the current state of local finance and investment for place-based development. It reflected on and discussed the key issues that need to be addressed by an incoming government. This briefing summarises and then takes forward the arguments that were made and develops them further. It makes suggestions for a work programme for a new government that could begin to fix what looks increasingly like a broken system of Local Authority (LA) and sub-national development financing. While neither the seminar nor this briefing can claim to cover the whole picture, it does aim to provide a reasonable starting point for LAs, Combined Authorities (CAs) and local partners to work up propositions and inform debates with an incoming government.

Read the full paper here.