Local growth deals are a good thing. Of course they are. How could they not be? Now what are they again?
The mechanics of government finance never cease to amaze or bore. But we do need to care because when it comes to devolution, it’s a question of ‘follow the money’.
There are in fact, according to a Local Government Association report last week, 124 funding streams for local growth and regeneration. These are spread across 20 Government departments and agencies and account for a total of £22 billion, all to be spent in your local area on your local things.
So when the Government announces it is devolving £2 billion on LGFs, context becomes rather significant. As does the essentially pointless complexity, worthy of an abbey full of medieval theologians.
Those in the know are fully on top of the difference between the Custom Build fund, the Community Right to Build fund, the Beds in Sheds fund, the New Homes Bonus and the Decent Homes fund. And the difference between the Linking Places fund, the Local Pinch Point fund, the Local Sustainable Transport fund and the Better Bus Areas fund. I could go on. But I promise I won’t.