The Future of Regional Development and Public Investment in Wales, United Kingdom
The Welsh Government has set an ambitious and innovative path for regional development
and public investment – one focused on generating growth and increasing productivity,
while also reducing territorial disparities and ensuring the well-being of citizens,
now and in the future. Yet, it faces significant challenges, accentuated by limited
fiscal decentralisation and changes to public investment financing post-Brexit. This
OECD Multi-level Governance Studies report provides the Welsh Government and Welsh
local authorities with analysis and recommendations on how to achieve regional development
and public investment aims. The report offers insight into how the Welsh Government
and Welsh local authorities can increase their fiscal and public investment capacity,
and strengthen their governance practices. It stresses that the Welsh Government’s
ability to coordinate regional development policy and associated public investment
is a determining factor in meeting growth and well-being objectives. This report also
proposes a variety of mechanisms to strengthen policy and service delivery at the
local level. A case study featuring the challenges and benefits of establishing economic
regions in Mid and South West Wales sheds a practical light on the various aspects
explored throughout the report.
Available from September 17, 2020
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