- The document discusses the UK government's new agenda to decentralize power away from central government and give more power to local communities, local governments, and front line services. - Key aspects of this include empowering individuals, neighborhoods, local institutions like schools and hospitals, and local governments to make more decisions. - It also discusses plans to rebalance the economy away from reliance on the public sector and toward private sector growth, including scrapping regional bodies and replacing them with new Local Enterprise Partnerships jointly run by local authorities and businesses. - Local economic assessments will continue to be important for local authorities but should increasingly reflect local priorities and private sector growth, and inform new Local Enterprise Partnerships.