This CLES bulletin does three things. First, it details announcements in the 2015 budget which relate to economic development and regeneration. Secondly, it provides a critique of this content. Thirdly, it outlines ways in which CLES think local economic development should progress post-budget and post the 2015 General Election.
The 2015 budget was a highly politicised and populist affair, coming just 49 days before a General Election. The Chancellor was in a confident mood, painting a picture of economic recovery, sustained growth, more jobs; and of ‘Comeback Britain’. However, the opposition have been quick to pour scorn on this notion, highlighting the failure to deliver on the all-important deficit reduction. Despite all the political rhetoric, it appears to us that this is another budget that will fail to bring about economic growth whilst addressing social inequality.