Can Andy Burnham tame the power of the Treasury to boost growth?
Summary
Andy Burnham, the UK Prime Minister, plans to move control of economic growth policy from the Treasury to a new department based in Manchester. He aims to use this new unit to better coordinate growth efforts across government and improve regional development by empowering metro mayors.Key Facts
- Andy Burnham wants to reduce the Treasury’s control over economic growth policy.
- The new department will be based in Manchester and overseen by cabinet member Louise Haigh.
- Burnham’s idea draws inspiration from past efforts, like Harold Wilson’s Department for Economic Affairs.
- The Treasury is seen by some as focused on short-term financial control rather than long-term growth.
- Burnham intends to coordinate policies like housing, education, and planning through this new unit.
- He supports greater devolution by giving more powers to regional leaders, known as metro mayors.
- John Healey, Burnham’s choice for chancellor, has experience with regional development agencies.
- Some experts see this as a positive move to bring new energy to UK economic growth strategies.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
