Devolution in a downturn Divergent approaches to sustainable economic prosperity?

1. Devolution in a downturnDivergent approaches to sustainable economic prosperity? John Adams ippr seminar Queen’s University, Belfast, 22 June 2009

3. Employment rates

4. The response to the recession • Economic and monetary policy reserved • Fiscal policy reserved • Approach of the DAs • Boosting demand • Bring forward capital spending, defer NNDR • Improving services • Skills and apprenticeships • Triage, eg ProAct • Partnership approach

5. The response to the recession • Common approach • Co-operative approach • Does the credit crunch and the recession expose the dangers of the small country model? • The affordability of recapitalisation • Inter-connected economies • Monetary policy and the exchange rate

6. Divergence and Difference in Industrial Policy • Some divergence • Picking winners • ‘Competitive’ tax rates • Much convergence • High-value, high productivity • Business support and enterprise • Innovation • Key sectors • Outcomes

7. GVA per head

8. Employment rates