Public Sector Cuts
One of the key objectives of the Regional Growth Fund is to "help those areas and communities that are currently dependent on the public sector make the transition to sustainable private sector-led growth and prosperity".
It is important for potential RGF bidders to note that a quantitative assessment of suitability of project/package location will be made based upon DWP Labour Group analysis for the functional economic area(s) affected. Indicators will include (i) the claimant count; and (ii) the concentration of public sector employment. This analysis will be augmented by other quantitative/qualitative evidence regarding localised impact (e.g. indirect impact of public sector retrenchment and other impacts not captured by the labour market statistics).
Therefore the links and documents below are indicative, helping to inform potential bids but they may differ from the DWP Labour Group analysis against which bids will be assessed.
Private sector job creation - November 2011
This paper looks at the prospects for private sector job growth in the South West and charts the scale of public sector job losses in the region during 2010-2011.
Impact of public sector spending cuts - September 2010
This analysis by the Economy Module in 2010 looked at the emerging evidence of the impact of public sector spending cuts on the South West and its places, including the effect of public sector job losses, cuts to public sector procurement and capital investment, reduction in public service provision and welfare reform.
Public Sector Employment
Produced in 2010, this page produced by the ONS regional analyst for the South West provided details of statistics on public sector employment. The ONS' quarterly estimate of public sector employment (PSE) do not include sub-regional data or any breakdown of regional data into sector or industry. Other data sources do provide such information and this page includes briefings that introduce these sources and, in particular, highlights the South West data within them. There are also links to related spreadsheets and to relevant websites.
Regaining our Balance - Implications for the South West Economy
The new UK coalition government believes that the UK economy has become unbalanced and overly indebted. Much recent debate on the UK economy has emphasized these perceived imbalances and the urgent need to redress them. This economic simulation bulletin from the Economy Module investigates the possible implications for the South West of 'rebalancing' the UK economy, examining the evidence for various types of economic 'imbalance' and ways in which economies have historically become restructured as imbalances have been removed. It then explores the possible implications for the South West economy by modelling of implications of three rebalancing scenarios.
The Economics of CSR: Ramifications for SW England - 21st October 2010
The Comprehensive Spending Review (CSR) provides details on departmental spending reductions over the next four years. These will dampen demand across the SW region. This Economy Module briefing provided an immediate reaction to the announcements.
Fiscal Tightening Update: Implications for the South West Economy - December 2010
Following the Coalition's Comprehensive Spending Review, the Economy Module published an update on its earlier (pre-election) analysis of the impact of fiscal tightening on the South West's economy. The simulation results suggest that the announced ‘fiscal consolidation’ measures could result in a significant short term reduction in total output and employment within the South West. South West GVA will be around £800 million (or 0.9%) lower in 2012 and 2013 than in the absence of these measures, while total employment will decline by around 19,000 full-time equivalent jobs. By 2020, South West output will be only around 0.1% lower than without these fiscal consolidation measures.