Wednesday, November 30, 2016
Since 2010, the northeast has comprised 4% of the UK population, contributed just 3% of the country’s gross value added (GVA), and accounted for only 2% of the economy’s new jobs
Those figures are 11%, 9%, and 7%, respectively, in the northwest; and 8%, 6.5%, and 6%, respectively, in Yorkshire and Humberside. By contrast, London and the southeast have accounted for 26.8% of population, 37.7% of GVA, and 39% of new jobs. In fact, since 2010, half of all new jobs were created in London, the southeast, and the east. A 2016 study by University of Groningen economist Philip McCann found that the UK’s regional income gaps rival the worst in Europe. Average disposable household income in the Greater London area is 60% higher than in most other regions of England, Wales, and Northern Ireland. Moreover, according to the latest Eurostat data, average per capita GDP (in terms of purchasing power parity) in the Welsh and Tees Valleys is, respectively, 69% and 74% lower than the EU average, placing them below Lithuania, Slovakia, and Slovenia. Overall, North England, Wales, and Northern Ireland’s per capita GDP levels are lower than Mississippi and West Virginia’s.