New Report Highlights Strength Of Reading's Economy
A new economic report published today has revealed the huge potential for Reading to be one of the most environmentally sustainable cities in the UK.
According to UK Powerhouse, a report by Irwin Mitchell and the Centre for Economic & Business Research (Cebr), Reading will be in the top 10 for economic growth (GVA*) during Q1 2021 ¬- the quarter when the transition period in the UK’s current EU Withdrawal agreement is set to have ended.
Reading is also in the top 10 for the lowest CO2 emissions per capita.
In addition to coming fourth for waste recycling, the report also looked at the areas with the highest number of solar panel installations and placed Reading in 22nd place.
When it comes to share of population using low emission transport** carbon dioxide per capita, Reading came 5th according to the latest figures. It was also in the top 10 for share of population using zero emission transport***.
Highlighting the success of Reading’s economy, the report says Reading has the second largest number of business per 10,000 people out of all cities in the UK, at 478 in 2017. Demonstrating the strength of the city, it says only London has a higher business density, at 583 per 10,000 people.
Expert Opinion“In June, the UK has announced its ambition to achieve net zero carbon emissions by 2050, the first major economy to do so. The ever-more urgent topic of climate change and sustainability has reached the highest level of government and it’s important that business recognise not only the important role they have to play, but also the opportunities that exist.
“In the case of Reading, it performs very well in terms of economic strength and well in some indicators of environmental sustainability but poorly in others. If it can continue to improve its share of low-and zero-emission transport, carbon emissions can decrease even further making it possible for Reading to become one of the most sustainable cities in the UK.”
Victoria Brackett - CEO of Business Legal Services & Partner
All forecasts in this report utilise Cebr’s central scenario. Cebr’s central forecasts are based on the assumption that an amended version of the Brexit withdrawal agreement will form the basis of the future UK – EU relationship. We further assume that a transitional arrangement will be put in place that allows a continuation of the current relationship without any major disruptions until at least 2021. On the immigration policy, we rely on the lower immigration population estimates assuming that a visa system will be implemented for EU nationals, but that the requirements (e.g. the minimum salary, the NHS surcharge payment, the application fees, etc.) would be more relaxed than they currently are for non-EU nationals requiring a visa.
*Gross value added
**Low emission transport include travels by bus/coach, national rail and underground
***Zero emission transport includes travel by walking or cycling