The Labour Governments of 1997-2010 introduced a range of new regional institutions in England, which were subsequently abolished after the 2010 General Election. This paper reassess the lessons which emerged from the regional policies pursued during this period and argues the Coalition Government elected in 2010 has failed to learn those lessons. The paper identifies three key lessons, that place and scale matter, that local government needs to be centrally involved, and that local economic development initiatives require effective local leadership to gain the buy in of the private sector. The lessons contained in this paper retain relevance for current and future regional development efforts.