Regional inequality: London receives almost double the investment in infrastructure projects compared to the rest of England

London is receiving significantly more investment in infrastructure projects compared to the rest of England, according to a report by the Purposeful Finance Commission. The report reveals that the average investment per person in the capital is £6,058, while the rest of England only receives £3,316. This stark regional difference highlights the ongoing challenge of reducing inequality across the country, despite Prime Minister Boris Johnson's promise to "level up" regions during the 2019 general election campaign.

The need for private investors and expertise

The report emphasizes the need for greater collaboration between private investors and communities to facilitate infrastructure development. It identifies a lack of expertise within local councils as a significant hurdle in delivering projects effectively. Additionally, the time-consuming planning regime is blamed for delays, with developers spending four times longer obtaining permission to build compared to the actual construction time.

Camden and City of London lead the way

The best-performing area in terms of investment is Camden and City of London, with investment levels nearly seven times the national average. This highlights the potential for success when there is adequate funding and support for infrastructure projects.

Levelling up funding and the Long Term Plan for Towns

In an effort to address regional disparities, Chancellor Rishi Sunak recently announced £1 billion of funding for "levelling up" 55 towns over the next decade. These areas will establish boards that bring together businesses, councils, and community leaders under the Long Term Plan for Towns. This initiative aims to prioritize the development of towns that have historically been overlooked in favor of cities.

Doubling down on the mission to level up

The report calls on the government to reinforce its commitment to reducing regional inequality before the next election. It highlights the significance of focusing on towns and ensuring that they receive the necessary investment and attention to bridge the gap with cities.