UK government policy decisions play a key role in regeneration

🔗 UK government policy decisions play a key role in regeneration: Due to how expensive regeneration is, often only the national government is able to fund it

Infrastructure

Investment in infrastructure is seen as a major factor in maintaining economic growth.

↳ Includes communication systems and social infrastructure

• 📝 Examples: HS2, Heathrow expansion
• Very high cost ∴ government funds are also mixed with private investment Departments involved in hard and soft regeneration:
• The Department for Communities and Local government Aims to create great places to live and work and empower local people to shape their own places
• The Department of Culture, Media and Sport Markets the UK;s image abroad, and protects and promotes cultural and artistic heritage and innovation
• Department for Environment, food and Rural Affairs Advocates environmental sustainability as part of economic growth

Players

• Mayors of metropolitan regions
• NGOs
• Local individuals

Development

🔗 National government also heavily involved within planning policies within which local development can take place

• Greenbelt land

• Conservation areas gave strict planning regulations which limit development

• Planning gain scheme which allows for private homes to be built if they include a percentage of affordable housing

• Developments in the national interest are allowed 📝 (eg. fracking)

• House building targets Ie. There are three aspects of the role of government planning:

• Planning laws

• Planning for fracking

  • Potentially could improve the UK's energy security
  • However, can cause major damage to the landscape (scarring)

• Planning for housing needs

Migration

• Economists state that migration is crucial for ↑ GDP

• Migrants can fill skill shortages and pay additional taxes

• Most migrants are young adults and either bring their families or have families while here

• Puts pressure on social services
• Migrants take jobs from locals
• Legal & illegal immigration is politically sensitive, with vows to ↓ immigration is a method to gain political backing

Deregulation of Capital Markets

•                                            Deregulation *
  

Involved the Following Changes

• Instead of the London stock exchange having a monopoly on all share dealings, any bank, financial advisor or even individuals can trade in shared
• Barriers stopping overseas banks and other financial institutions from setting up offices in London were also removed
• Promotes more external investment, ∴ supporting the economy Creation of open/closed door policies

Factors Affecting Regeneration Policies

• Politics of the local area
• Legacy of the past
• Location (Urban/Rural)
• Quality of the bid to government or private finance to get investment
• Global economic recessions and booms (external)