Prosperous Places: Taking forward the Review of Sub National Economic Development and Regeneration

The powerful forces of globalisation which are shaping our economy, society and culture present us with huge opportunities as a nation. Over the past eleven years, this Government has made global change our ally, predicting its opportunities, and ensuring that our people have the skills to meet the challenges.

By embracing change, we have seen eleven years of economic growth, falling unemployment, stable interest rates, and the revitalisation of our great cities. By cutting the costs of economic failure - welfare bills and unemployment benefit - this Government has been able to invest in schools, universities, training, science, and technology, as well as public services such as the NHS, transport and the police. And by putting the skills and ingenuity of the British people at the heart of our approach, we have benefited millions of British families with higher living standards and more rewarding work.

But our Government also recognises that in a fast-changing world, our economy must continue to be strong so we can weather future turbulence. This means that no area of the country should be excluded from rising prosperity, no child should be allowed to squander their talents, and no-one capable of work should be denied the chance to get on. For our country to continue to prosper, we must unlock the talents of every citizen, community, city and region of the UK. And we must make sure the principles of sustainable development - encouraging change that lasts, that local people feel part of, and that respects the natural environment - remain at the heart of our plans for Britain’s future.