Visionary, precautionary and constrained 'Varieties of devolution' in the economic governance of the devolved UK territories

This paper explores economic development financing and action, an important policy arena if lesser expenditure field in the devolved administrations. It sets evolution of this in historical and theoretical context. Since devolution in 1999, manufacturing job loss has been a common fear in Northern Ireland, Scotland and Wales as the UK government, even from 1997, pursued a strong sterling policy outside the Eurozone. In Northern Ireland, development options have been further constrained by suspension of Stormont, and Whitehall demands to reduce public administration. In Scotland a bold 'knowledge economy' strategy is evolving around endogenous growth; while in Wales, the Welsh Development Agency and other 'quangos' are to be absorbed into the Assembly government as elements of an endogenous innovation system policy falter. Simultaneously, public administration employment has grown particularly rapidly in Wales as the Assembly Government has perforce swiftly absorbed Keynesian counter-cyclical resources from the UK government.