Levelling Up is the phrase used to describe the Government’s plan to reduce economic disparities between regions in the UK and address the long-standing problem of inequality and wealth gaps that currently exist throughout the country. However, what it hopes to achieve, or how, has remained elusive. Until now.

The Levelling Up White Paper has been highly anticipated and marks a landmark moment for the Government, and, in turn, the West Midlands.

The White Paper is broadly focused around 12 new levelling up missions to progress “overlooked and undervalued” communities and regions. And within this set of objectives are numerous great opportunities for the West Midlands.

For example, Wolverhampton will be the first of 20 areas picked to benefit from a “radical new regeneration programme” launched by the Department for Levelling Up, Housing and Communities.

The opportunity is part of a wider £1.5bn brownfield fund to support developments that combine “housing, leisure and business”. In this particular case, the money has already been put aside for the revival of the corridor between Wolverhampton and Walsall and their hospitality, retail and development opportunities.

As well as this, the WMCA has been granted a £28 million portion of the budget allocated towards the development of brownfield sites. This adds to the £33m secured from the Brownfield Housing Fund last year, and further reinforces the visible commitment to brownfield site use, and the region’s pivotal part in this mission.

Elsewhere, the West Midlands will join other Northern regions in enjoying the benefits of a £100m budget for “innovation accelerators”. These clusters will see local businesses and researchers in these areas backed by £100 million of new government funding to turbo-charge local growth, learning from the MIT-Greater Boston and Stanford-Silicon Valley models. With robust foundations already in place, this additional investment can further push the West Midlands to the forefront of world-leading enterprise activity.

There is, however, one minor issue to the Levelling Up White Paper’s largely promising missions for the region. The entire Levelling Up strategy, including the budget, is reliant on existing financial allocations. The White Paper included no new allocation of funding for Levelling Up across the UK.

This has evoked cautious responses of support across the country, including from Birmingham City Council leader, Cllr Ian Ward, who emphasised this need for support.

Though, this is to be expected by the government, as the UK economy continues to recover from the COVID-19 pandemic. It should also be noted that as a general rule, White Papers are more concerned with strategy, proposal and information behind a policy to a reform or policy that has already had funds allocated by the Treasury.

Therefore, the Levelling Up White Paper represents a clear, concise declaration of intent, that can be referred back to and be used to hold the Government to account. While some have criticised it as lacking ambition, it is more importantly achievable in our post-pandemic society.

The Midlands must make use of the opportunity, and continue to grow, prosper, and enjoy further regional independence. In doing so, it can address the disparities that exist in the region, and further tap into the exciting potential that exists within it.