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Austerity Has Ravaged U.K. Communities. It Has Also Spurred Reinvention.

Jun 22, 2019 - The New York Times

PRESTON, England — In communities across Britain, funding from London was shrinking to nothing — the central equation of national austerity. But here in the fading industrial belt of northwestern England, the city of Preston took the crisis of budget-cutting as impetus for a basic refashioning.

In what has come to be known as the Preston model, the local government and other institutions began directing government spending toward local businesses. The city raised salaries for municipal...