State of Michigan’s Post

The #politicalcommunications driving the government transition and setting the agenda is a strategic minefield regarding #issuemanagement and setting expectations for investors and the public. Taking a 'show not tell' approach will be critical. The public and markets are tired of the myriad of empty, meaningless announcements such as 'levelling up', etc. Balance is essential to maintain the support of a broad church of #stakeholders. The new government has set the bar very low: "We have inherited the worst circumstances since the war". The public and businesses will agree but will only accept this for a limited time. Over the next four weeks, there will be an unpicking of the decade-long mantra of #austerity and the castration of the operational state at both central and local levels. It will be vital to have restraint in #communication and #messaging and a concise and clear rationale as to how the operating model and investment for health, education, planning and infrastructure can be fixed. More facts and details fewer high-vis jackets, undeliverable utopian project announcements and the blaming of other states or circumstances must be at the core of #communications.

Rachel Reeves Delivers First Speech as UK Chancellor - Key Highlights and Objective Critique Today, Rachel Reeves delivered her inaugural speech as the UK Chancellor, setting a determined tone for her tenure. Here are the key points and an objective critique of her address. KEY HIGHLIGHTS 1/. Economic Growth - Reeves highlighted that sustained economic growth is essential for improving living standards and addressing the nation's challenges. She committed to making tough decisions and not deferring action. 2/. Three Pillars of Growth - stability, investment, and reform were outlined as the foundational pillars of the new economic strategy. 3/. Planning Reforms - immediate actions to reform the planning system, including restoring mandatory housing targets and ending the ban on new onshore wind projects, were announced. 4/. National Wealth Fund - Reeves received a report from the task force led by Mark Carney and promised forthcoming steps to catalyse private sector investment. 5/. Fiscal Responsibility - commitment to robust fiscal rules and no increases in National Insurance, income tax, or VAT. 6/. Infrastructure Investment - pledged to build 1.5 million homes over five years and prioritise energy projects. GOOD POINTS a/. Decisive Action - Reeves' speech conveyed a strong sense of urgency and commitment to economic growth and reform, which is crucial given the current economic climate. b/. Comprehensive Plan - the speech covered a wide range of issues, from planning reforms to fiscal policy, demonstrating a comprehensive approach to economic recovery. c/. Clear Communication - her clear articulation of the government's priorities and immediate actions provided a good starting point. AREAS FOR IMPROVEMENT a/. Specific Timelines - while the speech was rich in promises, specific timelines for some key initiatives, such as when the public can expect to see the impacts of the planning reforms, were lacking. b/. Details on Social Housing - although the need for social housing was acknowledged, more concrete details on how these targets would be met would have strengthened the speech. c/. Handling Opposition - Reeves acknowledged potential opposition to reforms but did not elaborate on strategies to mitigate these challenges, which is crucial for effective implementation. In summary, Rachel Reeves' speech marks a promising start, setting a proactive and ambitious agenda for the UK economy. The focus now shifts to execution and delivering on these commitments. The Bond market reaction will be a true judge of the speech! Image Credit: Sky News #UKEconomy #Chancellor #EconomicGrowth #PlanningReform #FiscalResponsibility #RachelReeves

As the CFS team prepares to enter the Federal Budget lock-up in Canberra, what new cost-of-living measures could the government announce tonight? National Education Manager Jackie Clark shares what we’re expecting.   #AusBudget2024 #FederalBudget #economy #Auspol 

In her inaugural speech as Chancellor on July 8, 2024, Rachel Reeves outlined Labour's comprehensive economic strategy to tackle the UK's financial challenges. Emphasizing growth, investment, and reform, Reeves aims to rebuild Britain and ensure prosperity for all regions. #Costoflivingcrisis #economicreforms #Financialstability #fiscalresponsibility #housebuildingtargets #investmentandgrowth #Labourseconomicstrategy #RachelReeveschancellor #thxnews #UKeconomy

Key programs and policies — education, infrastructure projects, and more — that Newsom has focused on since taking office, may need to be scaled back. #politics #economy #california https://lnkd.in/eftXsyh7

Governor DeSantis’ Focus on Florida’s Future Budget for Fiscal Year 2024-25 totals $114.4 billion, more than $4.6 billion lower than the current year budget. Of the total $114.4 billion, the General Revenue portion is $46.0 billion, $1.6 billion less than the current Fiscal Year 2023-24 General Revenue budget. Florida’s total reserves are $16.3 billion, over 14 percent of the total budget for the fiscal year.

Chancellor confirms that there will be consultation on a revised 'growth focussed' NPPF before the end of July. It's clear that lots of change is coming and we should start to see details within just three weeks. For plan-makers there is an expectation of universal coverage of local plans and reviews of greenbelt boundaries. It's not clear at this stage whether or not the June 2025 deadline for local plans to be submitted under the current system will stand (it seems highly unlikely to me). No indication yet on whether or not the standard method for calculating housing needs at a local level will be amended. I would expect a long awaited and welcome move away from the use of the 2014 household projections to determine local housing requirements, but any alternative approach is sure to receive a high degree of scrutiny. It's not clear at this stage whether or not the changes to the NPPF will touch upon future intentions for other aspects of planning reform - such as strategic planning and the Infrastructure levy. #NPPF #planning #localplans #infrastructure #greenbelt

Today, Governor Ron DeSantis announced his Focus on Florida’s Future budget proposal for Fiscal Year (FY) 2024–2025. The Focus on Florida’s Future Budget totals $114.4 billion, more than $4.6 billion less than the current year budget, with $16.3 billion in reserves. Florida has experienced record success over the last five years, ranking #1 in education, net in-migration, entrepreneurship, and new business formations, with 2.7 million new businesses formed since 2019. The Governor’s Budget also includes paying down an additional $455 million in debt and providing $1.1 billion in tax relief. Read more: https://lnkd.in/dahWi3He #florida #government #economy

Today, we signed a conservative and balanced budget that focuses on two priorities that we know lift every Missourian up: workforce development and infrastructure. By making strategic investments, using common sense, and spending responsibly, we've maintained our AAA credit rating, achieved the lowest unemployment rate in Missouri history, added 163,000 jobs to our economy, and cut income tax burdens by over 20 percent. We've done it all while making historic investments, like the Improve I-70 project, and leaving $1.9 billion on the bottom line. We may be leaving $1.9 billion on the bottom line, but that doesn't mean we spend for the sake of spending. I also remind legislators and the media that a fund balance does not always mean a surplus. We have obligations both this year and in future years that must be accounted for today to avoid future budgetary pains tomorrow. Learn more about the FY25 state operating budget bills: https://lnkd.in/gsV8a5H5

After last week’s Federal Budget Debrief Breakfast, hosted by PEXA, .id (informed decisions) and SPP, we asked speakers Alan Oster of NAB, Brendan Coates of Grattan Institute, Rob Hall of .id and PEXA Chief Economist Julie T. to share their outtakes from our informative panel discussion. Watch the video below for their expert commentary on Australia’s economic outlook, including the future of housing affordability, cost-of-living relief and unemployment – to name a few. #housingaffordability #federalbudget #budget2024