Recessions have long-lasting effects. After the 2008 recession, it took five years for economic output to recover, and it took until the end of 2019 for wages to fully rebound. But some local areas took even longer to recover; 26 places are still below pre-crisis levels of output some 12 years later. Many areas are simply not resilient to economic shocks let alone in a position to thrive over the long run.

Given the unprecedented economic shock caused by Covid-19, this report is dedicated to understanding and addressing the potential long-run economic impacts at place level – seeking to ensure that we do not suffer another lost decade. Its major contribution is to explore the possible economic recovery paths for different groups of local authorities within the context of the government’s “levelling up” agenda and to reveal the 5 key tests for inclusive economic renewal.

Back from the brink: Avoiding a lost generation
Back from the brink: Avoiding a lost generation
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Back from the brink: Avoiding a lost generation – Centre for Progressive Policy
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