Demonstrating Market Failures

Description

This recorded session explores the concept of Market Failure in alignment with the Green Book definitions and other guidance, including economic theory. It looks at examples of different types of market failures, how to identify them and how to evidence them. The session presents a series of case study examples of where market failures have been identified and how they were demonstrated.

This recorded event is useful for Towns that are struggling to clearly define the market failures they are facing as part of their Business Case. It is also useful to inform the rationale behind some of the benefits which can be claimed in the Economic Case.

About the speakers

Danny Collins is Director of Economics at Savills with over 15 years experience of development consultancy, specialising in property market analysis and economic benefits assessment of major development projects, including new master planned communities, town centre studies, and infrastructure projects. Danny has particular expertise in developing the economic case for public sector investment projects.

Rob plays a lead role in Grant Thornton's Public Services consulting team. He brings particular expertise in the analysis of large quantitative and qualitative data, with the explicit purpose of deriving intelligent insight to inform service delivery, make the case for investment and to drive performance improvement.

Strategic Case Good Practice

This webinar focuses on the Strategic Case and how it can be successfully developed, drawing on recent Government guidance and best practice. One of the key outcomes of the recent HM Treasury Green Book review was a greater focus on the Strategic Case. Ultimately this Case should set out the rationale for change, ensuring alignment of the intervention to the drivers for change (economic, social, environmental), and local and national policy. The Strategic Case should position the type of interventions and options for further assessment in the other four cases.

Translating your TIP into the Strategic Case

This Guide will help Towns work out how best to translate their Town Investment Plan into the strategic case of their project business cases.

The aim of the strategic case is to demonstrate the rationale for investment and outline options for investment. It has become an even more important part of the business case in the latest Government Green Book review.

The Town Investment Plan already sets out the strategic case and vision for the town which is directly relevant to project business cases. However, there is only one TIP and multiple business cases, so how can the former support the latter?

How to account for COVID-19 in your baseline

In developing a robust Business Case it is important to consider how COVID-19 has impacted your Town and how best to capture this in your baseline. The purpose of this resource is to assist in this process.

Within this spreadsheet we have brought together a selection of key COVID-19 datasets that can be used to understand the impact of COVID-19 on your area. Please note that in most cases this data relates to the local authority level. There will of course be a number of other datasets that will need to form the baseline for your business case. These datasets have not been included here as timing means that will not yet reflect the impact of COVID-19 on your town.

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How to use

The 'COVID-19 data resources' spreadsheet provides links to the data source along with supporting information on the data and suggestions on how it could be used in the Business Case. Information provided includes:

• Theme: Overarching theme relating to Social, Economic, or Other

• Source: Name of data source

• Data: Type of data/indicators provided by this source

• Publisher: Publisher of the data source

• Frequency: How often the data is published

• Spatial level: Lowest spatial level that the data is available at

• Use: How the data can be used

• Application to business case: Why the data is relevant to your Business Case and suggestions on how it could be used

• Link: Hyperlink to the source of data

• Notes: Any additional instructions on how to access from the data from the link

Understanding Place - Creating rich contextual analysis

Description:

A key part in understanding what your town needs, is understanding what it currently has. This recorded event guides you through how best to analyse your place.

This recorded webinar includes a presentation of the key datasets to use to in your analysis, identify the unique characteristics of the Town and evidence need. 

About the speaker:

Rob Turner plays a lead role in Grant Thornton's Public Services consulting team. He brings particular expertise in the analysis of large quantitative and qualitative data, with the explicit purpose of deriving intelligent insight to inform service delivery, make the case for investment and to drive performance improvement.

On this recorded session, he is joined by colleagues from Grant Thornton, Sally Crawford and Cordelia Canning, who help lead on socio-economic analysis at Grant Thornton and have worked extensively for local authorities, using data to help tell a story of place.

Sustainable Growth Index

The Towns Fund Further Guidance explicitly suggests that towns incorporate a focus on inclusive growth in order to reflect the fact that many of the towns face serious social and economic challenges.

In order to support discussion around this and to stimulate thinking, Grant Thornton’s Sustainable Growth Index provides a useful tool for analysing the different components that create successful places.  This document provides guidance on how to effectively use the Index.