That’s actually quite funny. As the article points out, Wilson tried similar and it was an abject failure. Burnham really is keen on the 1960s and 1970s!
The simple fact is that economic growth policy is directly, inevitably tied tight to government income and expenditure. That’s why the Treasury oversees both growth policy and the country’s finances. This is just a re-tread of Wilson’s wish to downgrade the Treasury’s influence and reward colleagues with baubles - in Wilson’s case it was George Brown who was deputy PM.
Putting a growth department in Manchester is the most gimmicky nonsense yet from Burnham.