The Hampshire and Isle of Wight economy represents over 20% of South East output, but on average is 6% less productive per head – a trend that has worsened since 2009.
One major Devo South proposal is that all local authorities will forego Revenue Support Grant and other grants in exchange for retention of 100% business rates generated within the area. This has been agreed by the Chancellor in principle, and is all designed to boost the Hampshire and Isle of Wight economy. When it comes to boosting productivity then housing delivery plays a key part.
In return for a commitment from Government on infrastructure and land release, the Councils have promised to accelerate housing delivery, completing their Local Plan commitment of 76,000 homes two years early. More significantly, they will commit to increase delivery by an additional 500 homes a year in key sectors. These are rural affordable, low-cost starter, council new-build and extra care housing. To deliver this the Council’s say they need infrastructure support, amendments to planning regulations, and support for additional capacity in planning services.
BUSINESS is backing the idea of devolution in the South and wants to have a say in what it could mean for the region, according to a major new report commissioned by Business South. Business leaders across the south have taken part in the study conducted by the Southern Policy Centre – the south’s own think-tank – and our Devo South breakfast briefing will be your chance to find out more about the Southern Powerhouse and join the conversation.