Title You are here: Home / All posts / Can devolution deliver inclusive growth? You can bank on it! Can devolution deliver inclusive growth? You can bank on it! Media name/outlet Policy@Manchester Media type Web Country/Territory United Kingdom Date 15/12/16 Description With Devolution, Greater Manchester has an opportunity to encourage investment and inclusive growth by setting its own policy agenda. Dr Marianne Sensier puts the case for the creation of a regional bank within the new mayor’s policy agenda. A regional bank will provide finance for business and allow people to save their money which in turn will help develop the local community.
- Since the financial crisis of 2008 many regions of the UK have struggled and a large imbalance still exists between London and the South East and the rest of the country.
- Bank business lending contracted after the crisis and a recent government report suggests this is still an ongoing concern.
- Could lessons be learned from Germany that has a system of regional banks and actually increased lending to SMEs over the financial crisis?
- A regional bank tasked with a local economic development motive (rather than profit maximisation) could help provide more inclusive growth opportunities to struggling communities.
URL blog.policy.manchester.ac.uk/posts/2016/12/can-devolution-deliver-inclusive-growth-you-can-bank-on-it/ Persons Marianne Sensier
- Growth and Inclusion