Investment that helps all areas to prosper
Inclusive economic growth requires a strong partnership between the public and private sectors.
That is the consistent theme that emerged from last month’s UK Real Estate Investment and Infrastructure Forum (UKREiiF) in Leeds, attended by thousands of delegates from across local and regional government, business, housing and infrastructure.
I was delighted to lead an LGA delegation to the conference, where we held a series of excellent events, offering a timely reminder of the increasingly central role councils play in driving growth, shaping places, supporting cohesion and delivering the homes and infrastructure communities need.
The LGA used the forum to showcase council innovation and leadership, but also to underline the importance of strong partnerships between the public and private sectors in tackling some of the country’s biggest long-term challenges – from housing delivery and planning reform to digital transformation and demographic change. This is a partnership with business, and it requires the two to be aligned to deliver results.
The core issue of housing delivery, and how to tackle the shortage of homes we have in this country, featured prominently throughout the week.
Our events looked at planning, unlocking capital to build homes and foster community, and larger-scale issues such as spatial development strategies and planning reform.
Other highlights included the Great North Investment Summit – showcasing the importance of local partnerships, opportunities for growth, collaboration and improving outcomes in our communities – and the engagement with mayors, combined authorities and local leaders throughout the week.
It was clear that delegates thought of councils not as passive observers of the growth agenda, but as a crucial part of the delivery mechanism.
Whether through planning, regeneration, transport, housing or skills, local authorities are central to building the places where people live, work and socialise.
Figures from local government and business alike highlighted the importance of the public and private sectors working hand-in-glove – the local knowledge and democratic, community focus of councils combining with developer expertise to drive growth.
This was most clear when we launched our new guidance to help local authorities engage more effectively with the private sector, curate their area and services to better support businesses, and attract investment and growth.
‘Attracting investment for inclusive growth: a guide for councils’ provides essential context and practical steps for local government to create the best offer to business and bring investment to local areas.
It highlights inclusive growth and investment – that is, growth and investment that is shared more fairly across a community and helps all areas prosper.
Alongside this, the LGA highlighted its wider sector support work and LG Horizons, a flagship programme exploring what local government could look like by 2040.
From the pressures of an ageing population to the opportunities and disruption created by artificial intelligence and digital transformation, the programme aims to help councils prepare for profound long-term change that is led by local leaders and shaped for, and by, local residents and businesses.
Looking back, UKREiiF served as more than a networking event or investment conference. It became a platform for demonstrating the key role of councils in economic growth, and how a solid partnership between local government and the private sector is the cornerstone of inclusive growth.