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Devolution in a downturn Divergent approaches to sustainable economic prosperity? John Adams ippr seminar Queens University, Belfast, 22 June 2009.

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Presentation on theme: "Devolution in a downturn Divergent approaches to sustainable economic prosperity? John Adams ippr seminar Queens University, Belfast, 22 June 2009."— Presentation transcript:

1 Devolution in a downturn Divergent approaches to sustainable economic prosperity? John Adams ippr seminar Queens University, Belfast, 22 June 2009

2 % change on the previous quarter % change compared with the same quarter of the previous year Q2Q3Q4Q1Q4Q1 UK France Germany EU Scotland …-2.0 Norway Finland …-1.8 Iceland …-1.3 Ireland …-7.4 Denmark …-3.6

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


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