John Healey, the UK’s shadow chancellor, has set out a four-point economic growth strategy aimed at rebalancing power between central government and local communities across Britain. Speaking recently, Healey emphasized the need to decentralize decision-making authority and boost investment in regions outside London and the southeast.

Healey criticized the concentration of economic and political power in Westminster, arguing that many decisions affecting local economies have long been detached from the people who understand those areas best. He contended that while national government should focus on major infrastructure projects, energy systems, and interdepartmental coordination, too often Whitehall has either failed to act decisively or delegated responsibility to largely unaccountable regulators and arm’s-length bodies. This approach, he said, has produced “the worst of both worlds”: excessive central control where flexibility is needed, and inadequate intervention where strong action is required.

According to Healey, the consequences of this imbalance are apparent in communities facing underinvestment, including empty shops on high streets, shuttered factories, and declining opportunities for young people. He linked these challenges to policy decisions dating back to the 1980s, asserting that leaving many places behind has hampered broader national growth.

The strategy outlined calls for restoring public control over key utilities such as energy, water, and transport—sectors largely privatized in recent decades. Healey argued that the expected benefits of privatisation have largely failed to materialize, with consumers paying higher costs for less reliable service. His proposal envisions greater public ownership to reduce living expenses for families and lower operational costs for businesses.

Healey also advocated for a renewed role for central government, specifically strengthening the capacity of Whitehall in areas where local communities require support to capitalize on opportunities. This includes reallocating power away from unelected regulatory bodies toward regions, cities, and towns. Central to this vision is the government’s “No 10 North” initiative, designed to coordinate efforts across the prime minister’s office, Treasury, and other departments to empower localities. Under this model, local leaders would no longer need to seek permission for economic development but would instead gain greater autonomy, with ministers required to justify retaining centralized control.

The final element of Healey’s agenda targets the conditions needed to attract and retain business investment. He stressed that stability in public finances and adherence to fiscal rules are critical for fostering confidence among companies. His plan also includes measures to improve access to skilled workers, simplify regulatory frameworks, and enhance support for research and innovation.

Healey summarized his vision as a partnership where government lays down strong foundations, local leadership creates tailored plans, and the private sector delivers investment and employment. The overarching goal, he said, is to achieve “good growth in every postcode,” ensuring economic benefits are more evenly distributed throughout Britain.