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Our UK Powerhouse campaign tracks regional economic growth across the country and offers expert policy recommendations for the future. Download our latest quarterly report to read access our most up-to-date insights.
We launched UK Powerhouse with Cebr in October 2015 to follow the launch of George Osborne’s Northern Powerhouse initiative. Northern Powerhouse was designed to foster regional growth outside the capital but we felt that the scope could have been broader. As such, our Powerhouse reports cover the whole of the UK – not just the North.
As the government’s economic policies have evolved, so too has our Powerhouse campaign. We have increased the number of locations examined and introduced a focus on strategically important industry sectors.
When you download our quarterly report, you will have access to:
Please contact us today if you would like to know more about how our business legal team can help you take advantage of the information provided in this report.
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City economies within the Northern Powerhouse and Midlands Engine are expected to be growing at half the speed of Milton Keynes, Reading and Cambridge by 2028, according to our latest UK Powerhouse report.
The report reveals that the league table of the top 10 fastest growing city economies will continue to be dominated by locations in the South of England.
It also highlights that the Government’s plans to rebalance the UK economy are not working and that more needs to be done to unlock regional growth.
UK Powerhouse also reveals that Cambridge had the UK’s fastest-growing city economy in the final three months of 2017, whilst Derby was placed second.
Josie Dent, an economist at Irwin Mitchell, said: “In the latest edition of the UK Powerhouse table, the traditional high-growth cities of Cambridge and Oxford stayed near the top for GVA growth, while Derby rose to a strong second place in the last quarter of 2017.
“Derby benefits from a strong manufacturing base with factories for Toyota, Rolls-Royce, and Bombardier Transportation, which have enjoyed a competitive export advantage due to the weak pound in 2017 and strong international demand. In terms of employment growth, the southern cities of Bournemouth and Exeter performed well according to the latest data, with annual growth rates of over 1% in Q4 2017.”
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