Thread by @Miatsf

Want the *honest* state of play on #LevellingUp today?

@NEF’s new report shows a staggering 60% of the country needs to be #LevelledUp, and sets out a 5-point policy shift to really do the job, backed by 6 metro mayors.

Report: neweconomics.org/2022/02/closin…

Key findings 🧵👇🏾

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Widening #inequality between regions is damaging millions of lives and holding the UK back.

Since Dec 2019, real incomes have risen by less than £20 per year in the NE, £80 per year in NW and £90 in Yorkshire and the Humber.

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By contrast, real incomes in London have increased by more than £600 per year and by more than £550 in the SE.

And despite growing inequality, only £36 per person of the Government’s #LevellingUpFund has gone to these areas.

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The data chimes with people’s perceptions: Previous polling by @OpiniumResearch for NEF shows that 58% of people in the UK have seen no evidence of #LevellingUp in their community since the 2019 general election.

(See neweconomics.org/2021/12/over-h…)

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Inequality within & between regions is a longstanding problem. Previous attempts to #levelup have focussed on improving physical infrastructure and attracting high-value-added business to areas. But targeting growth and productivity alone doesn’t drive up living standards.

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We can see that increased #productivity in an area neither guarantees higher than median household income…

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… Nor does it mean community need (libraries, local services, green spaces, childcare, charities, and even social cohesion) is better met.

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So we need a different approach. To close the divide between places, #LevellingUp must focus on improving people’s lives and livelihoods in left behind areas.

To achieve this, we need 5 major shifts in economic policy…

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1️⃣ **Shift from central direction to local control** – with a radical transfer of powers over transport, #housing, skills, employment support, business support, #ClimateChange and local taxation from Whitehall to town halls.

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2️⃣ **Shift from growth to living standard** – boosting incomes with an uplift to the #NationalLivingWage to reflect the true #CostOfLiving and expanding access to local services and facilities through a £15bn social infrastructure fund.

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3️⃣ **Shift in focus on the everyday economy** – creating good jobs and lifting #wages in sectors such as retail, hospitality, care, and public services that exist in every place and make up 63% of all jobs.

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4️⃣ **Shift to backing SMEs** – through access to affordable rents, finance, and business advice, and -

5️⃣ **Shift to green** – with a £28bn a year green investment package, with 50% devolved to communities, alongside regional #CarbonBudgets and just transition plans.

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6 regional mayors are backing the call for this major policy shift: @AndyBurnhamGM, @MayorJD, @TracyBrabin, @votedannorris, @DanJarvisMP, @MetroMayorSteve.

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Post-pandemic, we have a prime opportunity to ensure our economy starts working for all of us. This plan seizes that opportunity. Time for Gov’t to stop talking about #levellingup, and start doing it.

Read the full report: neweconomics.org/2022/02/closin…

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See coverage of the report on @Skynews: news.sky.com/preview/312377…

See previous @NEF analysis on widening inequality: neweconomics.org/torn-apart

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