A successful northern economy is one that reduces its dependency on other parts of the world and on national government support. This means ensuring our money supports local and regional businesses, and strengthening links between the north’s businesses and communities. There should be a clear correlation between incentives for business and firms‘contribution to local training, skills development and community wellbeing.
Low taxes on personal and business incomeNo or very low tariffs and dutiesA regulatory environment that encourages choice and flexibility in employmentA pro-business and pro-development planning regimePriority for infrastructure investment that support growth – roads, ports, broadbandAn education system focused on core skills and employability
Update: Seems I'm not the only person who finds Julian's prescription a little unworkable. Here's Tim Worstall on the subject:
Apart from the fact that high speed broadband (as opposed to the dial up/ broadband difference) doesn’t make any difference at all, it’s just the usual ritual cant about inclusiveness isn’t it?
There’s three things that are wrong with the “northern” economy.
1) The exchange rate’s too high.
2) Wages in one sector of the economy are too high.
3) The private sector is getting crowded out.
The solution is to cut government, cut wages (and taxes) and the exchange rate, well that’s more difficult.