Now that the dust has begun to settle on the government's latest Spending Review, policymakers and public finance managers are assessing its longer-term implications for regional growth. While the Chancellor's commitments to stability and targeted investment are welcome, experiences from the West Midlands and Japan provide valuable lessons in making these pledges a reality. Drawing on a new report by CIPFA and City-REDI at the University of Birmingham, the comparative experiences of second cities like Birmingham and Osaka offer practical lessons for how the UK can transform national ambitions into meaningful local outcomes.

 Stable and clear institutional frameworks