Together for success
The global financial crisis exposed long-standing problems in our economy.
It represented a moment when the tide went out and the rocks beneath were laid bare. But these problems began long before the crash and won’t be solved simply by the belated end of the recession.
Our response must be to grow the wealth of our country - not by big spending - but by big reform of our economy.
To create the wealth of the future and solve the cost-of-living crisis, we must help create high-quality private-sector jobs not just in one part of Britain, but across the country including in Derbyshire.
We know what made successful towns and cities in the past. It’s what businesses, universities and civic leaders are trying to recreate in Derbyshire. But it cannot begin unless local communities have the power to make it possible.
I’ve been working on plans to devolve £30 billion of funding across the UK. The next Labour government will ensure local communities get control of business rates revenue to ensure any extra money raised locally, thanks to the efforts of local wealth creators, can then be invested locally. That means more decisions about Derbyshire will be made in Derbyshire. Organisations like the Sheffield City Region would also be strengthened as part of the plans.
Projects like Markham Vale – supported by Derbyshire County Council as well as Chesterfield, Bolsover and North East Derbyshire councils – is a prime example of what can be achieved when local authorities club together. With the potential to bring 5,000 jobs to North Derbyshire, we will be looking closely at Markham Vale to see how the next Labour government can extend the good practice.
The next Labour government cannot solve every problem from Whitehall. We can only do it by working with, harnessing the energy, ideas and dynamism of great businesses and local government.