Value for money in urban public expenditure

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Abstract
Urban policy has been dominated by physical development and the balance of public spending (through City Grant and Urban Development Corporations for example) has reflected the centrality of property and development interests. Expenditure programmes directed to the leverage of private sector resources have been volatile and unpredictable in the face of cyclical recession, while receipts from the disposal of land and assets have fallen away. It is not clear whether urban public expenditure has or has not been intended as counter cyclical. Since development‐related programmes remain at the heart of the Single Regeneration Budget, improved forecasting, management and control are prerequisites for its success.