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UK Powerhouse

Our quarterly economic growth report charting the regional effects of economic policy for businesses across the UK

Key Findings Q4 2018 and Brexit

Hospitality workforce

The hospitality sector could be one of the most affected by Brexit, with EU workers currently making up 13% of the workforce.

Automotive industry

The automotive industry might also face problems, with EU customers buying 51% of all UK-built cars in 2018.

Tax receipts at risk

Tax receipts from the banking sector amounted to £28.5bn in the 2017-18 financial year. HMRC could lose some of this as businesses relocate their taxable assets.

Growth for construction

Brexit presents opportunities in the construction industry. By 2020, growth may have increased to 1.7%.

Increased household savings

Household savings increased by £5.3b in 2019 as more people save money in the face of an uncertain Brexit.

Employment growth in Exeter

Exeter is expected to hold onto its title of the city with the fastest rate of employment growth.

Slowing economic growth

Growth in the UK economy slowed to 0.2% from 0.6% in the final quarter of 2018. 2018 was the worst year for economic growth since 2012.

Reading tops GVA growth chart

Reading had the highest annual GVA growth of any UK city in Q4 2018, at an estimated 2.7%. However, we forecast that this will slow to 2.0% by Q4 2020.

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