While it’s true that investment in “regeneration” usually results in gentrification and the decline in manufacturing hasn’t been halted or reversed, the suggestion that there should be internal mass migration shows how much worse than New Labour the Tories would be if they form the next government.
Doubtless, the capitalist class would be delighted to see workers from the North of England being encouraged (which usually means coerced) to travel in search of employment. This would add to the pressure on infrastructure but crucially it would increase competition in the labour market, driving down pay and conditions.
It is possible to revive those parts of England which have suffered because of the policy of “managed decline”, but this would be resisted by the ruling class who prefer to see public money used to boost profits or bail out failing banks.
A strategy of endogenous development could be pursued, but as we’ve seen with New Labour’s failure to announce a New Green Deal and willingness to bail out the banks, and the report by the Policy Exchange and Cameron’s call for the poor to help themselves, the political elite will continue to ignore the millions and bow to the millionaires.