Newspaper article The Journal (Newcastle, England)

Simplify the System of Funding to Find Success

Newspaper article The Journal (Newcastle, England)

Simplify the System of Funding to Find Success

Article excerpt

Byline: KEVAN CARRICK

THE approach by the present government for devolution of powers to the regions. is something that I have encouraged over many years, starting with discussions held between the RICS and Government in the early 1990s about too much centralisation of Whitehall, the racing economic engine of London and the risk of a stalling economic engine in the regions.

We were fortunate in the North East region with the activities of the Northern Development Company headed by Dr John Bridge.

This public/private partnership marketed the region globally to excellent effect and attracted major inward investors.

This success was identified and the then Government established the Regional Development Agencies, in our case One NorthEast that took over a similar role, plus the implementation of financing and facilitating physical regeneration to achieve economic growth and jobs.

While we had the best of them, sadly, some RDAs were less effective than others with the result they were terminated and a new policy implemented.

The Local Enterprise Partnerships are public/private partnerships driving economic growth and jobs. Their budget is considerably less than that of the RDAs, but other funding is coming forward for infrastructure and skills.

It has taken the LEPs a couple of years to progress matters and we are just about seeing progress being made.

My concern is that the LEPs might not be around if there is a change in government and we will have another period of stasis whilst some other organisation is put into place to deal with devolution and localism.

A new report called The Future Financing of Real Estate Development in Cities, published by the Royal Institution of Chartered Surveyors (RICS) researches into the challenges of growing urban areas in cities and uses the Bay Area, San Francisco, US, as a case study. …

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