A new report by The Future Governance Forum, ‘The Green Book and getting more investment into the regions’, has called on the Government to change the way that its Green Book is used if it wants to increase public investment in areas outside of London and the South East.
‘The Green Book and getting more investment into the regions’ report by the FGF’s Chief Economist, Dan Corry (former Head of the Number 10 Policy Unit and Senior Adviser to the Prime Minister on the Economy), welcomes the review of the Green Book that is currently under way, but argues that it has to do more than alter the methodology used if it wants to see more public investment outside London and the South East.
The report recommends the government should:
- Do more to promote the strategic case for its investment projects outside London and the South East (e.g. rail in the North) to change the way civil servants use the Green Book
- Provide a clearer policy steer to Whitehall that it wants to see more investment outside London and the South East to enable the Green Book to help deliver that objective.
- Consider devolving more money (such as capital budgets) to regional and local government and allow devolved areas to raise more finance themselves.
‘The Green Book and getting more investment into the regions’ report is published a month before Rachel Reeves’ review of the Green Book in January 2026.