Business & Finance
Whole place reform vital if government to deliver ambitious national missions, Localis report urges
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- New Localis report calls on the government to make it easier for local leaders to adopt proactive and preventative approaches to service provision and encourage collaborative partnership working across the public and private sector.
- The report suggests that the government could do this by restoring stability to council finances as a foundation from which to deliver on national renewal missions.
Switching now to a ‘whole place’ model of local public service reform would support the new government’s ambitious national missions and offer a unique opportunity to enact lasting change after a decade of decline among English councils, a new report published today by Localis argues.
In a report entitled ‘Heart of the matter – getting to grips with whole place transformation’, independent think-tank Localis recommends the new government should restore stability to council finances with an immediate cash injection to steady the ship for frontline service delivery before charting a course to long-term financial sustainability. The study further recommends council workforce capacity also be addressed as among the first steps to long-term radical improvements.
The report authors call for a transformative renewal of place policy that balances the optimism of devolution and community empowerment with the stark realities of fiscal constraints and persistent economic challenges. Looking back to previous attempts at place-based reform, the paper advocates a whole place approach to improving local service outcomes that focuses on:
- empowering local leadership
with long-term, stable funding to make meaningful changes. - embedding preventative approaches by investing in upstream prevention to tackle issues at their source in a way that reduces demand on frontline services and leads to better outcomes.
- developing collaborative cultures across public, private and third sectors to create user-centred service provision.
- practicing community co-design
with meaningful engagement to meet the needs of local residents.
Localis chief executive, Jonathan Werran, said: “As we stand on the brink of a major shift in how we deliver public services, this report offers a roadmap for change where it counts, that is both ambitious and grounded in the practical realities faced by local government.
“‘Heart of the matter’ is a call to action for both local leaders and central government to work together to deliver the high-quality, sustainable public services our communities deserve.
“A transformative whole-place approach can deliver high-quality, efficient local services we all wish to see. Realising the prize will require both radical reform from central government and continued innovative action from local leaders if we are to get the improvements that can build a new and secure era for people and place.”
Sean Hanson, chief executive, IMPOWER, said: “Heart of the Matter puts beyond doubt what many local leaders already know –lasting social change and inclusive economic growth is only possible if we turn the promise of whole-place transformation into a reality.”
“The report’s findings look back on what has worked in the past, including investment in prevention, collaborative partnership working, and community empowerment. The report’s proposals look ahead to an exciting age of opportunity in which place leaders have the powers and resources to deliver growth that works for everyone and for the long term.”
“We look forward to working with and supporting leaders to ensure their places are primed for growth.”
END
Press enquiries:
Jonathan Werran, chief executive, Localis
(Telephone) 0870 448 1530 / (Mobile) 07967 100328 / (Email) [email protected]
IMPOWER, PLMR PR agency 0800 058 4219 [email protected]
Notes to Editors:
- An advance copy of the report is available for download
Online report launch | Heart of the matter – the foundational case for whole place transformation | Thursday 12 September from 11.00 to 12.00
We will debate the report and ask why radical whole place transformation is back on the agenda for placemaking and service provision and what this might deliver for communities and localities in the new political cycle.
Join us for from 11.00 to 12.00 for the online report launch of ‘Heart of the Matter’ on Thursday 12 September.
Speakers will include:
- Cllr Abi Brown, Chair, LGA Improvement and Innovation Board
- Sean Hanson, Chief Executive, IMPOWER
- Professor Colin Copus, Localis Fellow
- Kate Martin, Executive Director, City Futures, Sheffield City Council
For more details and to register – please click here:
- About Localis
Localis is an independent think-tank dedicated to issues related to politics, public service reform and localism. We carry out innovative research, hold events and facilitate an ever-growing network of members to stimulate and challenge the current orthodoxy of the governance of the UK.
About IMPOWER
Founded in 2000 by a local authority Chief Executive, IMPOWER brings together public and private sector experts to address complex challenges. We have partnered with over 150 UK councils, improving performance, enriching lives, and strengthening public services. This year, we are expanding our Place sector work to help more clients create thriving, sustainable communities.
Impower.co.uk
- Key report recommendations
The recommendations of this report represent an attempt to balance two imperatives, as informed by the research and engagement carried out over the course of the project. On the one hand, there is the need for radical, structural reformulation of the settlement between central and local government.
On the other, there is the need for councils to continue to find ways to deliver strategically and intelligently, in spite of a system which all too often works against such activity. The goal is to outline the principles which must undergird systemic reform whilst also highlighting the best practice and pragmatic action taken by councils managing to innovate in the system as it currently exists.
Local government recommendations
To continue to deliver for residents even under considerable pressure, the use of partnership models centring on upstream prevention will be crucial. An examination of best and emerging practices in this area informs the following recommendations:
- Plan to transform.
To help foster a collaborative culture, councils should produce transformational whole place service delivery plans, in collaboration with other agencies, to give a clear overview of the efficiency and quality of service delivery across an area.
- Model to prevent.
Councils should develop internal models for valuing prevention and review spending accordingly, to help ensure that they can adopt an outcomes-focused approach to reducing demand on frontline services.
- Prime for good growth.
Being primed for good growth will be key to sustaining long-term transformation. Councils should set out what good growth looks like over the immediate, medium and long-term as part of the forthcoming statutory local growth plans.
- Work in partnership.
Councils should form partnerships and pool resources with local partners across the public, private and third sectors. Operating with severely restricted capacity that is mostly outside of their control, it is more important than ever that councils lead collaboratively.
- Deliver through innovation.
Councils should work with private and third sector partners to establish innovative vehicles for regeneration, with explicit mandates to use procurement and other strategic functions to promote local economic growth.
- Empower people.
Local partnerships should embed a culture of community engagement and empowerment. This means adopting an asset-led and strengths-based approach, focusing on trust building, and develop different channels of communication with diverse communities. Mechanisms for collaboration should be built into the process of formulating strategy and devising policy across all policy areas.
Central government recommendations
To lay the groundwork for this transformation and equip local authorities to deliver on national priorities by providing high quality, sustainable public services and strategic, dynamic placemaking for economic development, a new deal for local government must meet the following requirements:
- Steady the ship.
As an interim measure, central government must make an immediate cash injection into local authorities for frontline service delivery, to restore sustainability to core services and halt decline in neighbourhood service provision. The immediate focus of spend could be on the improvement of the built and natural environment to deliver a visible uplift, followed by investment in community services, longer-term housing improvements and preventative measures at neighbourhood level.
- Chart a course to sustainability.
Looking to the future, there must be an examination of local government revenue sources, including fiscal devolution, to chart a course to longer-term sustainability.
- Fill the capacity gap.
To accelerate efforts to fill the local government capacity gap and ensure the workforce is properly equipped to address the service challenges of the future, government must work with the Local Government Association (LGA) to further develop and scale-up employment and training programmes.
- Invest in prevention.
The new funding settlement must commit to the value of upstream prevention
and look to move beyond the ‘discretionary’ categorisation of non-statutory services, recognising the value of these services in reducing frontline demand.
- Value outcomes.
The success of local growth plans should be evaluated on public service outcomes as well as economic indicators.
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Business & Finance
AI Revolutionizes Cryptocurrency Trading with Real-Time Analysis
AI algorithms are transforming cryptocurrency trading by offering real-time analysis and unprecedented efficiency. This article explores the technological advancements and their impact on the crypto market.
Artificial intelligence is rapidly reshaping the cryptocurrency trading landscape, a fact made clear by recent reports from Bloomberg. The integration of AI algorithms into trading strategies is providing unprecedented real-time analysis and efficiency, a development that is attracting significant attention from investors eager to capitalize on the volatile yet lucrative crypto markets.
In May 2026, Bloomberg highlighted how AI technologies are enabling traders to process vast amounts of market data at speeds unattainable by human analysts. This capability allows for the detection of patterns and trends that might otherwise go unnoticed, offering a competitive edge to those who harness these tools. The real-time nature of these analyses means traders can make decisions based on the most current market conditions, enhancing the potential for profitable trades.
The application of AI in cryptocurrency trading is not merely a theoretical concept but a practical reality transforming investment strategies. For instance, hedge funds and institutional investors are increasingly relying on machine learning models to predict price movements and optimize trading algorithms. These models can analyze a myriad of factors, from market sentiment to historical price data, adjusting trading strategies dynamically in response to new information.
AI’s role in enhancing trading efficiency is particularly crucial in the cryptocurrency markets, where volatility is a constant challenge. The ability to swiftly process and react to market changes can mean the difference between a lucrative trade and a significant loss. This agility is driving interest from tech-savvy investors who are keen to leverage innovation for financial gain.
However, the rise of AI in cryptocurrency trading is not without its challenges. Regulators are grappling with the implications of these technologies, as traditional oversight mechanisms struggle to keep pace with rapid technological advancements. There is an ongoing debate about the need for new regulatory frameworks to ensure fair and transparent trading practices.
Despite these challenges, the potential benefits of AI in cryptocurrency trading are substantial. As the technology continues to evolve, it is likely to drive further innovation in the financial sector, offering new opportunities for growth and investment. Investors and firms that can effectively integrate AI into their trading strategies are poised to thrive in this new digital era.
The future of cryptocurrency trading appears increasingly intertwined with AI technology. As more traders adopt these advanced tools, the market dynamics will likely shift, favoring those who can adapt quickly to technological changes. The ongoing integration of AI into cryptocurrency trading not only heralds a new era of financial innovation but also underscores the transformative power of technology in shaping the future of finance.
Business & Finance
The Rise of Green Finance in Europe: Challenges and Limitations
Explore the burgeoning field of green finance in Europe, focusing on the critical challenges and limitations that could shape its future. This article provides a thorough analysis of the barriers to sustainable investment growth and the potential implications for investors.
As the sun rises over Europe’s financial districts, a new wave of investment strategies is beginning to take shape. Green finance, a term that encapsulates financial investments flowing into sustainable and environmentally friendly projects, is gaining traction across the continent. However, beneath the surface of this promising trend lie significant challenges that could impede its progress.
The current landscape of green finance in Europe is characterized by an increasing number of funds and initiatives aimed at supporting sustainable development. The European Union has been at the forefront, implementing a comprehensive framework that encourages green investments. This includes the EU Green Deal and the Sustainable Finance Disclosure Regulation (SFDR), which aim to direct capital flows towards sustainable economic activities. Despite these efforts, the journey towards a universally green financial system is fraught with obstacles.
One of the primary challenges facing green finance is the lack of standardized definitions and metrics. What exactly constitutes a ‘green’ investment can vary significantly across regions and sectors, leading to confusion and inconsistency. This lack of clarity can result in greenwashing, where investments are marketed as sustainable without meeting rigorous environmental criteria. The absence of a unified taxonomy complicates efforts to assess and compare the sustainability of different financial products.
Moreover, the transition to green finance is hindered by the existing financial infrastructure. Traditional financial systems are deeply entrenched, often prioritizing short-term gains over long-term sustainability. This systemic inertia makes it difficult for green initiatives to gain a foothold. Additionally, many investors are still skeptical about the profitability of sustainable investments, perceiving them as risky or less lucrative compared to conventional options.
Another significant limitation is the uneven distribution of green finance across Europe. While countries like Germany and the Nordic nations have made substantial progress in integrating sustainable practices, others lag behind due to economic and regulatory disparities. This imbalance poses a challenge to achieving a cohesive and effective green finance strategy across the continent.
The role of technology and innovation in overcoming these challenges cannot be overstated. Advancements in fintech, such as blockchain and artificial intelligence, have the potential to enhance transparency and efficiency in green finance. These technologies can help track and verify the environmental impact of investments, thus building trust and credibility in the market.
Despite these hurdles, the future of green finance in Europe holds promising opportunities. As awareness of climate change grows, so does the demand for sustainable financial products. Investors are increasingly recognizing the long-term benefits of aligning their portfolios with environmental goals. Furthermore, regulatory pressures and societal expectations are likely to drive more companies towards sustainable practices, thereby expanding the scope of green finance.
In conclusion, while the rise of green finance in Europe is a step in the right direction, it is not without its challenges. Addressing the issues of standardization, infrastructure, and regional disparities will be crucial in unlocking the full potential of sustainable investments. As Europe navigates these complexities, the outcome will not only shape the future of its financial markets but also its commitment to a sustainable global economy.
Business & Finance
Fed Ends Crypto-Specific Oversight: What It Means for the Industry
By PromoMag Business Desk | August 2025
The U.S. Federal Reserve has officially ended its dedicated oversight program for crypto and fintech—signaling a shift in how regulators will handle digital asset activities going forward. The “novel activities” supervisory program, introduced in 2023, is being dissolved, with crypto oversight now folded back into the Fed’s traditional bank examination framework. The decision has stirred debate across the financial world, as institutions assess whether this signals regulatory maturity—or strategic retreat.
The implications are significant. From compliance teams at major banks to fintech startups vying for legitimacy, everyone involved in digital assets must now recalibrate to meet evolving expectations without the specialized lens once offered by the Fed’s focused crypto arm.
The move suggests the Fed believes crypto is now mainstream enough to be treated as part of general financial supervision—yet critics worry this could dilute the nuanced oversight digital assets require.
Background: The “Novel Activities” Framework
The Fed launched its novel activities supervision program in August 2023 in response to growing integration of crypto, stablecoins, and blockchain-based banking functions across U.S. financial institutions. The initiative aimed to provide centralized expertise and scrutiny for risk-laden innovations, including tokenized assets and distributed ledger operations.
It operated parallel to traditional supervisory mechanisms, offering more specialized attention to high-risk fintech and crypto ventures while maintaining consistency across regional Federal Reserve Banks.
This structure was designed to address growing concern about the systemic risk posed by digital assets—especially in the wake of crypto collapses like FTX and TerraUSD.
Why the Fed Is Pulling the Plug
Fed officials have not framed the closure as a downgrade of crypto’s importance, but rather as a consolidation of resources. According to internal briefings, the rationale centers around streamlining compliance review, increasing supervisory efficiency, and reducing regulatory overlap.
A spokesperson from the Federal Reserve Board stated:
“We are embedding digital asset risk monitoring within our standard supervisory models, ensuring consistent treatment across all novel activities.”
In essence, the Fed believes that its traditional supervisory programs are now sophisticated enough to handle digital asset risks without the need for a separate channel.
Industry Response: Mixed Signals
Reactions from the financial sector are divided.
Major banks—including those offering crypto custody services or tokenized asset platforms—have expressed relief at the perceived reduction in regulatory burden. According to a senior compliance officer at a top-five U.S. bank:
“It’s a positive signal. The Fed sees crypto activities as part of the financial mainstream.”
However, fintech startups and some policy analysts worry the decision could lead to a loss of institutional expertise and focus, potentially making it harder to navigate complex regulatory expectations.
Crypto advocacy groups, such as the Blockchain Association, warned that “folding crypto oversight into legacy systems” could slow innovation and diminish clarity for newcomers to the space.
Regulatory Consequences for the Crypto Ecosystem
This shift creates a new regulatory reality for institutions engaged in digital asset activities.
Firms can expect a more generalized approach to supervision, one less tailored to the unique volatility and structural intricacies of blockchain technology. While this might reduce compliance complexity, it also removes the layer of crypto-specific feedback once provided under the novel activities program.
The Securities and Exchange Commission (SEC) and the Office of the Comptroller of the Currency (OCC) have shown no indication of following suit, meaning regulatory fragmentation in the U.S. will likely persist.
Moreover, it raises questions about the future of coordinated federal crypto policy—especially as debates continue over stablecoin regulation and the role of central bank digital currencies (CBDCs).
Global Context: Lagging or Leading?
The Fed’s move contrasts with approaches taken in Europe, Asia, and even the UK.
The EU’s Markets in Crypto-Assets (MiCA) regulation has introduced a fully bespoke framework for digital asset supervision, offering clarity and structure to market participants. Hong Kong and Singapore have likewise invested heavily in dedicated crypto regulation teams and innovation hubs.
In the UK, although regulatory clarity has been slow, the recent announcement that retail investors will soon access regulated crypto ETNs on the London Stock Exchange underscores a willingness to evolve within clear frameworks.
As a result, some experts argue the U.S. risks falling behind its global peers in crypto governance and innovation readiness.
What Happens Next
For institutions, the end of the Fed’s crypto-specific program means adapting to a more homogenized—but perhaps less predictable—regulatory regime.
Financial firms should review their risk disclosures, audit procedures, and supervisory expectations to align with the broader examination frameworks now in place. The Fed is expected to release updated supervisory guidance before the end of 2025 to assist with the transition.
Market watchers will also look to Congress for any moves toward legislative clarity, particularly around stablecoins, custody rules, and crypto exchange oversight.
Final Thoughts
The Fed’s decision to retire its novel activities supervision marks a turning point. On the one hand, it acknowledges crypto as no longer “novel”—but rather as an established component of financial services. On the other, it risks flattening the regulatory nuance needed to address crypto’s unique challenges.
Whether this shift accelerates mainstream adoption or muddies the regulatory waters will depend on how swiftly and clearly the Fed communicates its new expectations.
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