Our Regional Forecast found UK growth set for better regional balance over the next three years, but little progress in the previous three.
owever, this more balanced growth profile will principally be the result of slower growth in the services sector, which will have a detrimental impact on the south of the UK, rather than other regions ‘catching up’ through improved performance.
The report also warns that growth imbalances between different places within regions will continue to increase, with cities and larger towns pulling away from their smaller neighbours.
It highlights the scale and complexity of the economic rebalancing challenge which will require radical thinking to drive more balanced growth within regions; finding ways for smaller towns to benefit from the success of their faster-growing neighbours.
Listen to Mark Gregory sharing some of the key findings.