Policymakers have been reluctant to adopt ultra-micro projects, but they are an antidote to the failed 'trickle-down' model
Don't look now, but the political language is changing. Once, the phrase "rebalancing the economy" was the cornerstone of coalition economics; shifting energy from finance to manufacturing, from big to small, from London to everywhere else.
Now, I notice, it has come to mean little more than reducing the UK trade deficit, which is not the same thing at all. But don't let's lose the previous meaning entirely, because it stood for something important. We still need to rebalance the economy. What we lack is a formula to regenerate cities and towns using their own resources, without having to wait around for the outside investment or government grants that never arrived.
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