London is the most productive region in the UK, closely followed by the South East and Scotland, according to new research from Durham University Business School.
This report, conducted by Richard Harris and John Moffat, who are both Professors of Economics at Durham University Business School also found that the least productive region was Wales, with London having double its productivity levels.
Professor Richard Harris, commented, “A major priority today for the UK Government is to boost productivity as well as achieve greater ‘spatial rebalancing’ of the economy to address the so-called north-south divide in terms of GDP per capita. Our research clearly shows that the levels of productivity are drastically higher in London and its surrounding areas in the South East, such as Thames Valley, Hertfordshire and so on.”
He added, “However, locational factors do account for, on average, between 41-50% of the differential between London and other Local Economic Partnerships, depending on the sector considered, clearly showcasing the importance for companies to be based in, or near, London.”
To compile the report, the researchers not only categorised levels of productivity in terms of the eleven different regions, but also evaluated this in terms of twelve leading cities and their non-city hinterlands; and English LEPs, accompanied by Glasgow, Edinburgh, the rest of Scotland and Wales. The research also estimates levels of productivity sector per sector, covering manufacturing, high-tech, and services and so on.
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