• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
No Result
View All Result
Home Business and Economics Business

UK Competitiveness Index paints bleak economic picture for areas outside London

Academics say long-term decline forecast for large areas of the UK Significant parts of Britain will experience a decline in economic growth over the next twenty years, a study says. The 2019 edition of the UK Competitiveness Index is compiled by researchers at Cardiff University and Nottingham Business School. As well as assessing the competitiveness […]

Ben Gelblum by Ben Gelblum
2019-03-25 13:08
in Business, Economics, News, Politics
FacebookTwitterLinkedinEmailWhatsapp

Academics say long-term decline forecast for large areas of the UK

Significant parts of Britain will experience a decline in economic growth over the next twenty years, a study says.

The 2019 edition of the UK Competitiveness Index is compiled by researchers at Cardiff University and Nottingham Business School. As well as assessing the competitiveness of localities in England, Wales and Scotland today, forecasts have been compiled data to predict how they will fare in the years to come.

By focusing on local authority areas, the analysis offers the most detailed insights to date of the UK’s economic prospects. It finds that the competitiveness divide between London and other parts of the UK will become even wider over the next two decades.

Merthyr Tydfil in South Wales is set to experience the biggest economic decline, with the town’s Gross Domestic Product (GDP) per capita- a measure of the economy’s health – predicted to decrease by 0.56% every year. It is followed by Mansfield in the Midlands (-0.48%) and Thanet (0.34%) in Kent.

Tower Hamlets in London is predicted to be the fastest growing area, with its GDP per capita forecast to rise by 7.17% every year. This is followed by Camden (6.97%) and Islington (6.52). Under an economic ‘bust’ scenario based on a new recession or negative trading conditions from a no-deal Brexit, researchers calculate that only these three London boroughs would achieve economic growth over the next five years, leaving the rest of the UK to lag behind.

Professor Robert Huggins, based at Cardiff University’s School of Geography and Planning, said: “This research presents the most extensive picture of the UK’s future economic challenges. It’s clear that whatever happens over the coming weeks, the competitiveness gap between London and other parts of the UK is going to soar. These are issues that will only be exacerbated by a no-deal Brexit.

RelatedPosts

‘As bad as the pandemic’: Martin Lewis sounds energy bills alarm

Energy giants to hand shareholders bumper £10 BILLION payout

‘Gordon Brown is clearly right’: Ex-PM hailed for cost of living plan

The lady IS for turning: Truss hints at energy bill about-face

“For areas such as London, which are the competitiveness leaders, they face a danger of becoming less affordable and accessible to the majority. On the other hand, there will be parts of the UK that will become increasingly disadvantaged due to a lack of opportunities for growth.” 

The UK Competitiveness Index measures current economic competitiveness across local and regional areas of Britain based on a basket of economic indicators*. Its current findings show that the nine most competitive places in the UK are in London, with the City of London in the leading position, followed by Westminster, Camden, and Tower Hamlets.

Blaenau Gwent and Anglesey in Wales respectively are the least competitive localities, with Mansfield being the least competitive place in England. Areas in Scotland have generally performed strongly in the rankings, with Aberdeen City at the top and Dumfries and Galloway the least competitive.

As well as London, much of the UK’s competitiveness is concentrated in urban areas such as Bristol, Manchester, and Cardiff. After the London boroughs, St Albans, which has benefitted from an increase in its industrial specialisation, is the next most competitive city.

The places that have seen the most improvements in competitiveness since 2015 are Bromsgrove in the West Midlands, Luton in the East of England and Charnwood in the East Midlands. Bolsover and Eastbourne have seen some of the biggest drops in competitiveness, due to a lack of sustainable new businesses and the investment required to establish a culture of entrepreneurship.

Professor Huggins added: “To ensure all parts of the UK economy survive in these difficult conditions, urgent action needs to be taken by governments and policymakers. Our data collected over the past two decades demonstrates how a lack of positive action can have lasting and serious consequences.”

The report is available here: http://orca.cf.ac.uk/120234/

https://www.thelondoneconomic.com/news/uk-loses-900bn-as-brexit-damage-to-city-worse-than-expected/11/03/

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

The TLE shop is also now open, with all profits going to supporting our work.

The shop can be found here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending
Abdollah

‘Rescue us’: Afghan teacher begs UK to help him escape Taliban

CHOMSKY: “If Corbyn had been elected, Britain would be pursuing a much more sane course”

What If We Got Rid Of Prisons?

More from TLE

Tips to find a cheaper holiday in 2017

MPs to get £2k raise the day Brits battered by cost-of-living crunch

Shocking images of starving 64-year-old who was denied benefits by DWP emerge

Marcus Rashford pens heartfelt statement to fans

Lockdown awakened us to nature’s importance. Let’s harness that momentum

Morrisons causes Twitter storm after dropping Brussels from sprouts

Final Thoughts on Cannes 2019

Teenager ‘fatally stabbed straight through heart by schoolboy who cycled off on Boris Bike’

Three killed by train in south London

DWP staff drank and ate takeaways ‘late into evening’ during lockdown

JOBS

FIND MORE JOBS

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.