{"id":8312,"date":"2017-12-12T17:15:15","date_gmt":"2017-12-12T17:15:15","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=8312"},"modified":"2017-12-12T17:15:15","modified_gmt":"2017-12-12T17:15:15","slug":"north-south-divide-widens-manchester-still-beating-london","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-hk\/2017\/12\/12\/north-south-divide-widens-manchester-still-beating-london\/","title":{"rendered":"North-south divide widens but Manchester still beating London"},"content":{"rendered":"

The economic gap between the north and the south of England could be wider by 2020 than it was in 2010 according to Ernst & Young forecasts.<\/strong><\/p>\n

Overall, the report has found that very little progress has been made over the past three years to tackle the problems of the north-south divide<\/a>, and\u00a0gross value added (GVA) shares have actually revealed the situation has worsened.<\/p>\n

London<\/a> and the south-east of England will see annual GVA growth averaging 2.2% and 2% respectively over the next three years, the EY report has found, compared to a 1.8% UK average.\u00a0The four fastest growing regions over the period between 2010 and 2020 will be in London, the south-east, the south-west<\/a> and the east.<\/p>\n

Meanwhile,\u00a0Stoke-on-Trent, Hull, Liverpool<\/a> and Leeds are forecast to experience below average GVA growth of 1.2%, 1.4%, 1.5% and 1.7% and employment growth of -0.1%, 0.1%, 0.3% and 0.9% per year on average respectively.<\/p>\n

The making of Manchester<\/h4>\n

Manchester bucked the trend for the north, though, as it expects annual rises for GVA and employment growth to be 2.4% and 1.7% respectively until 2020 – higher than in the capital city. The economy is expected to be driven by solid performance in sectors such as professional, scientific and technical, administrative and support sectors, and construction.<\/p>\n

Debbie O’Hanlon, national markets leader at EY in the UK, said: “The strong GVA performance both historic and projected for Manchester demonstrates that location is not a binding constraint on growth. It is a reflection of the substantial investments<\/a> that have been made in the city over the last decade.<\/p>\n

“However, the success of Manchester and the strong southern cities highlights the fact that city growth typically outpaces regional growth. In every region, the fastest growing cities<\/a> outpace average regional growth and the smaller towns and cities are growing more slowly.”<\/p>\n

Upping the north<\/h4>\n

The Northern Powerhouse Partnership<\/a>, chaired by George Osborne, was set up to give northern cities and people more power away from London and improve the economies outside of the capital.<\/p>\n

The body was intended to enable local businesses and politicians to commission research, share ideas and lobby Whitehall in order to obtain more devolution<\/a>, but it seems the initiative has a lot of work to do.<\/p>\n

EY\u2019s chief economist Mark Gregory said: “The UK has made little progress on regional rebalancing<\/a> over the past three years, and we expect more of the same over the next three years.<\/p>\n

“We have had quite a lot of attention to devolving economic power but skills are still being run pretty centrally, so I think one thing would be giving some real resources and more local control to skills [policy] \u2013\u00a0for a lot of people labour markets are pretty local.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The economic gap between the north and the south of England could be wider by 2020 than it was in 2010 according to Ernst & Young forecasts. Overall, the report has found that very little progress has been made over the past three years to tackle the problems of the north-south divide, and\u00a0gross value added… Read more »<\/a><\/p>\n","protected":false},"author":1069,"featured_media":8327,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[12,42,6],"tags":[341],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/posts\/8312"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/comments?post=8312"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/posts\/8312\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/media\/8327"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/media?parent=8312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/categories?post=8312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/tags?post=8312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}