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The Future of Regional Development and Public Investment in Wales, United Kingdom

The Welsh Government has set an ambitious and innovative path for regional development and public investment – one focused on generating growth and increasing productivity, while also reducing territorial disparities and ensuring the well-being of citizens, now and in the future. Yet, it faces significant challenges, accentuated by limited fiscal decentralisation and changes to public investment financing post-Brexit. This OECD Multi-level Governance Studies report provides the Welsh Government and Welsh local authorities with analysis and recommendations on how to achieve regional development and public investment aims. The report offers insight into how the Welsh Government and Welsh local authorities can increase their fiscal and public investment capacity, and strengthen their governance practices. It stresses that the Welsh Government’s ability to coordinate regional development policy and associated public investment is a determining factor in meeting growth and well-being objectives. This report also proposes a variety of mechanisms to strengthen policy and service delivery at the local level. A case study featuring the challenges and benefits of establishing economic regions in Mid and South West Wales sheds a practical light on the various aspects explored throughout the report.

Available from September 17, 2020

In series:OECD Multi-level Governance Studiesview more titles

TABLE OF CONTENTS

Foreword
Abbreviations and acronyms
Executive summary
Assessment and recommendations
Providing context: The importance of governance in Welsh public investment
Understanding the Welsh territorial puzzle in the context of megatrends
Fiscal frameworks and public investment financing in Wales
Reinforcing the governance of regional development and public investment in Wales
OECD case study: Considerations for economic regions in Mid Wales and South West Wales
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