Learning Journal 3 - Ciara, Giulia, Kinza, Tom, Simon

Meeting at Warmington Tower on the 10th March 2017
(everyone present, at least in spirit)

Next meeting scheduled for the 15th March 2017
Developing individually in detail the following paragraphs:

BACKGROUND:

1. How is England divided in regions?  (Ciara)
2. Historical development of the regions.  (Ciara)
3. Differences in the Quality of Life.  (Kinza)
4. Description of geographical economic inequality and then generalise between North and South. (Kinza)

DIAGNOSIS OF POLICY PROBLEM: 

Wealth Inequality (Giulia)

1. Different ways to measure the wealth of a nation (definition + datas for the regions) : 
1. GDP 
2. Social Progress Index (SPI)
3. Genuine Progress Indicator (GPI)
4. United Nations Human Development Index (UNHDI)
5. Index of Sustainable Economic Welfare (ISEW)
6. Gross Value Added (GVA)
2. Is there a new definition of poverty? 
3. What are the main differences between North and South of England? 
1. Unemployment 
2. Health
3. Education 
4. Spendings 
5. Average earners 
6. Quality of Life
4. What impact does it have on the economy? 
5. Transports -> not good public services BUT people can’t afford a car

Brexit influence (Giulia)

1. How much did the UK (and the Northern Regions) gained from investing in the EU? 
2. Which regions did mainly benefit from it? 
3. What decisions will take the EU and the UK in the future regarding improving the economy in the North? 
4. How are they going to fill the void left from regional European investments? 
5. How much of these investments were linked to the private sector? 
6. The Northern Powerhouse 
7. What does the Budget 2017 say? 

Devolution (Tom) 

1. Brexit vote
1. Economic dissatisfaction 
2. Regional division
2. Explicitly call for a FEDERAL UNITED KINDOM from Senior Politicians 
3. Difference between city devolution and regional devolution
4. Tip the balance further between London and the rest of the Country

Lack of productivity (Simon)

1. Causes a lack profitability in private enterprises
2. leads to fewer private investments in these regions, leading to
3. Lack of employment 
4. this means less opportunity in general for the individual compared to london
5. Leads to brain drain
6. leads to further lack of potential production possibility in these depleted regions.
7. Leads general low GVA for these regions

Structural financial problem (Tom)

1. Participation in the country growth (unbalanced) 
2. Historical unbalance 
3. Thatcher Big Bang -> financial deregulation 
4. Impact of the economic mass 
5. Productivity
6. Potential productivity gains
7. Feeder Effect (financial problem in the infrastructure) 

Lack of effective private investment (Simon)

1. profitability in depleted regions is so low due to productivity, so finance capital favours the south
2. this leads to fewer opportunities in the north, and so lower employment, and income inequality
3. Income and wealth inequality lead to lack of Aggregate Demand in Northern regions, further reducing profitability and therefore investment in the private sector for these regions
4. This causes government spending to favour more profitable regions in terms of infrastructure etc

KEY PRESCRIBED RESPONSES: 

1. Mobilise investment in the private sector
2. Implement investment in the infrastructures
3. Federalisation of the UK 

RECOMMENDATIONS

1. Northern Investment Bank
2. Investment in Transport
3. Devolution of powers