William Eichler 08 November 2016

UK’s cities ‘outperforming’ pre-financial crisis peak

The majority of the UK’s cities are now outperforming their pre-financial crisis peak - but some are experiencing pressures on housing affordability, transportation and work-life balance.

The latest 2016 Good Growth for Cities index, produced by PwC and the think-tank, Demos, found two-thirds of the country’s cities have improved their rankings on the index, surpassing the pre-financial crisis peak of 2006-08.

The index - which also measured combined authorities, devolved administrations and LEPs - measured more than gross value-added (GVA). It factored in jobs, health, income and skills, work-life balance, house-affordability, travel-to-work times, income equality and pollution, as well as business start-ups.

The highest ranking cities were Oxford, Reading, Edinburgh, Southampton and Bristol. And the lowest ranking were Doncaster, Wakefield & Castleford, Swansea, Sunderland, and Middlesbrough & Stockton.

Virtually all cities have seen an improvement in score since last year’s report and the cities that have shown the most substantial improvement since 2012-14 come from across the index.

For example, Doncaster and Wakefield & Castleford are in the bottom five of the overall index, but they are two of the five cities with the biggest improvement in score.

PwC concluded the cities that have seen the biggest improvement in overall score are typically those which have experienced particularly large falls in unemployment or increases in business start-ups.

However, the index revealed that success is bringing a new set of problems to some cities. Some areas that have previously scored highly in terms of jobs, incomes and business start-ups are beginning to share London’s experience, including pressures on housing affordability, transportation and work-life balance.

The data used to compile the Good Growth index predated the EU referendum outcome. However, PwC chief economist, John Hawksworth said some inferences could be drawn on the potential impact of Brexit.

‘All the elements of our Good Growth index could be impacted by Brexit to some degree, although housing, jobs and income may see the largest effects,’ he said.

‘Starting up new businesses, for example, could suffer as a result of increased economic uncertainty.

‘On the other hand, changing trade relations and regulations after Brexit, the shock to the status quo, and the potential opening up of new markets outside the EU could create opportunities for new entrants.

‘Similarly, investment in transport infrastructure could be hit by reductions in Foreign Direct Investment (FDI), but the Chancellor may seek to offset this through greater public investment in transport in the Autumn Statement.

‘Collectively, all these factors serve to emphasise the uncertainty surrounding the effect of Brexit. For policymakers across UK cities and regions it is therefore important to understand these risks and the local impact they may have. And, even more than usual, it is important that businesses are agile, and have contingency plans in place for both mitigating the risks and seizing the opportunities that Brexit may create.’

Skills Pipelines: What local government needs to know image

Skills Pipelines: What local government needs to know

Councils and mayors are to be handed a central role in developing skills pipelines for local industries, as the Government unveils what it calls a ‘fundamental change’ to the education system aimed at tackling youth unemployment. Here's what council leaders and officers need to know.
SIGN UP
For your free daily news bulletin
Highways jobs

Apprentice - Housing Management

Durham County Council
£15,434 per annum (£8.00ph) NMW
Earn.  Learn.  Qualify.   Do you want to earn while you learn, with the chance of progression once you qualify? Do you want the opportunity to grow, d Spennymoor
Recuriter: Durham County Council

Social Worker

Durham County Council
Grade 9 - £35,412 - £39,152 / Grade 11 - £40,777 - £45,091 (pay award pending)
1 X Temporary post (22.5 hpw) until 31/03/2027 - Hospital Discharge Team East - Seaham 1 x Temporary post (30 hpw) maternity cover for 12 months or re Seaham
Recuriter: Durham County Council

Social Worker (Mental Wellbeing Service)

The Royal Borough of Windsor & Maidenhead
£40,192 - £44,012 per annum
We have an exciting opportunity for a Social Worker to join our Mental Wellbeing Service! Maidenhead, Berkshire
Recuriter: The Royal Borough of Windsor & Maidenhead

General Teaching Assistant PLC

North Yorkshire Council
£25,989 - £26,824 per annum, pro rata
Are you passionate about making a difference in the lives of young people with additional needs? Northallerton, North Yorkshire
Recuriter: North Yorkshire Council

Advanced Teaching Assistant PLC

North Yorkshire Council
£26,824 - £29,064 per annum, pro rata
PLC is a county-wide, person-centred programme supporting young people aged 16+ with Education, Health and Care Plans (EHCPs). Northallerton, North Yorkshire
Recuriter: North Yorkshire Council
Linkedin Banner