Devolution and the UK Economy - by David Bailey & Leslie Budd (Hardcover)

About the Book

An informed, insightful and intelligent analysis of the economic impact of decentralization brought about by constitutional devolution.

Book Synopsis

The Scottish Referendum in September 2014 had significant and far-reaching consequences for the political settlement of the United Kingdom. The pressure for more fiscal devolution and other economic powers in the devolved nations has increased demands for greater economic decentralisation in the regions and sub-regions of England. This edited collection constructs an analytical narrative that draws on the evidence of the Scottish experience and expert testimony from the Smith Commission and other policy advisors. Drawing on ideas from fiscal federalism and agglomeration economics, the contributors examine the reorganisation and restructuring of economic territories within the UK.

What is apparent in the UK experience of asymmetrical devolution is that many of the complex issues surrounding decentralised economic governance are not going to be addressed through simple expedients. The pertinent question is what should be the appropriate institutional logics and formal policy bailiwicks underpinning a new constitutional settlement? In other words, what new governmental powers and accompanying forms of governance are needed to achieve a more economically and spatially balanced economy?

Review Quotes

"In normal times, a book on local economics in the United Kingdom edited by two business professors would pass unnoticed. But these are not normal times, and the issue of whether British territorial subunits can prosper on their own has taken on vital importance. The volume sets forth some clear and convincing findings on the matter." --Foreign Affairs

About the Author

David Bailey is Professor of Industry at Aston Business School, UK.

Leslie Budd is Reader in Social Enterprise at the Open University, UK.