EQ3- How is regeneration managed?

Gov. policy: Infrastructure investment to improve accessibility, maintain growth, regenerate regions

Crossrail -Elizabeth Line

+Increase London rail capacity by 10%.

+Improves connectivity between major employment areas e.g. West End, Canary Wharf- allows key workers to take use of lower property prices on edge of London.

+Regeneration in deprived communities - larger workforce employed.

-construction cost of £14bn- 60% funding comes form Londoners + London businesses.

-increased congestion, noise, house prices (by 21%) around new stations.

Airport expansion- Heathrow

+Heathrow runs at almost full capacity- expand to keep up with growing demand as SE England is the main earner of GVA in the UK.

+3^rd runway will boost economy- create over 70 000 new jobs, + more business and tourism in the long run.

-Heathrow generates 50% aviation emissions. With the 3^rd runway, it could generate 50% of total emissions by 2025- impacts health as it will breach EU regulations of nitrous oxide levels.

-Impacts local areas- noise pollution as a result of extra flights, Sipson (a village of 7000) would be demolished, acres of greenbelt land swallowed up.

Gov policy: rate + type of development affecting regeneration

Planning for house building- ‘right to buy’ of 1980s sold more than 2 million houses by 1995. Greenbelt areas can’t be built on.

House building targets- 31 of 33 boroughs failing to deliver enough affordable homes. e.g. Greenwich met 43% of affordable homes target. Bromley delivered 323, exceeding target of 254.

House affordability- London house prices rising more than 20% each year. Only 1/3 of the amount needed for the growing demand is being built.

Permission for fracking- fracking for shale gas e.g. in Lancashire (rural) due to national interest, can creates jobs at shale gas companies, energy security, however national parks may be destroyed + landscapes of value. National interests often override local interests e.g. motorway M25 + airport expansion.

Gov. policy: deregulation + migration policies

Deregulation on FDI

+More FDI- Goldman Sachs HQ bought by South Korean company for £1.1bn.

+Foreign buyers on UK properties- properties average £1.3m from overseas investors.

-For every 1% of residential property owned by overseas buyers, house prices increase by around 2.1%.

-Risky investments made by investors- led to 2008 banking crisis- cost economy £7.4tn in lost output.

International migration policies

1. Open door policy 1992 + pro-immigration policy: boosted UK GDP- fill job + skill shortages, balance UK ageing pop. e.g. 21 000 polish children

2. Closed door policy (conservative gov. policy): move net migration from 100 - 10 thousands, higher salary thresholds on work visas. Leads to more illegal immigration who make no positive impacts on economy.

How do local gov. attract investment

Science Parks: Local authorities work with major universities to create commercial retail bases. Cambridge SC- largest park, attracting TNC’s like AstraZeneca to benefit form technological expertise at the university. Oxford SC competes with software companies.

+income from FDI to regenerate area + transport links can be funded.

+high expertise companies attract high skilled earners.

Enterprise zones: designated areas across England providing tax breaks + gov. support.

+100% tax relief to businesses making large investments in assisted areas

+up to 100% business rate discount >£275 000

+business rates growth generated by EZ is kept by local enterprise partnership for 25 years to reinvest in local economic growth.

Local interest groups - how they support regeneration: Powys Regeneration Partnership as an approach to regeneration

A range of non-gov players often involved in the planning + management of regeneration projects.

Local chambers of commerce: Represent business + industry in a local area.

e.g. encouraged use of EU structural funds by authority for competitive businesses to grow- £4M grants given across 310 businesses

Trade unions: Represent workers in particular industries over issues like pay + work conditions.

Local preservation societies: environmental groups, historical preservation- ensure regen doesn’t cause negative consequences.

Cambrian Mountains initiative- encourage carbon storage + water regulation- 91% of community run by electricity

Different groups may have different aims, e.g. chamber of commerce wants to encourage growth but preservation group wants to limit carbon.

Regeneration stategies (urban + rural)

URBAN: use of sport, tourism, leisure to attract inward investment + creating new places. Olympic park 2012

-stadium is home to West Ham United

-Europes largest shopping centre, Westfield

-East Bank is a new digital + creative industry hub with BBC, V&A Museum, etc.

RURAL: diversification

Earning income through different sectors e.g. Diggerland (for children), selling non food crops like flowers, craft making facilities. ½ of all farms in UK use diversification.

Rebranding

Re-imaging places using a variety of media to improve the image of both urban and rural locations and make them more attractive for potential investors.

Rebranding strategies examples (urban + rural)

URBAN: Glasgow’s ‘Scotland with Style’ rebrand as an international centre- more cultural infrastructure, etc.

Attracted hotel chains, conference centres. UEFA cup final held in 2007 as a result of rebranding.

Commonwealth Games in 2014- 1.26bn saw/ read about Glasgow. Supported 2100 jobs annually. Transport infrastructure + sports facilities implemented using £390m revenue.

RURAL

Farm diversification: Earning income from agriculture + tourism by attracting different audiences, e.g. Diggerland theme park for children, paintballing, music + arts festivals such as Glastonbury.

-become more known for diverse activities, earn income in all seasons of the year.

Heritage + literary associations: Brontë Country- Pennine Hills inspired works including ‘Jane Eyre’ by the Brontë sisters.

-Village of Haworth where they were born is a tourist hotspot. Visitors are encouraged to explore areas attractions.