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May 21, 2018

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The Southern Powerhouse - is it still driving UK Growth?

November 14, 2018


Much has been made in recent years of the north south divide and the various political parties plans to spread prosperity to all Britain’s regions after warnings that economic activity is becoming ever more concentrated in London and the South-East. But is it having any impact or is the South still fuelling the UK economy?


The region has a thriving business community.  The latest statistics and forecasts are really encouraging for the region with both economic and employment levels predicting strong growth over the next few years.  


On current trends, the two most prosperous regions – London and the South East - would account for 40% of national output by the end of the next parliament in 2022.  This represents a continuing upward trend from 33% in 1997, to 37.7% in 2015 (using the latest available data).


London in particular, has expanded rapidly over the last two decades from 18.7% of GDP to 22.7% between 1997 and 2015 and with a further estimated increase to 24.8% of GDP by 202