London and Britain’s South East will account for two fifths of the UK economy by 2022 if current trends continue, a study indicates.
An analysis by the TUC (Trade Union Council) has found that by 2022, London and country’s South East will account for 40 per cent of the UK economy, a rise of 2.5 per cent from 2015.
If current patterns continue, the most significant falls in the share of the economy over the next parliament will be in Yorkshire, the North West and Scotland, the union organisation said.
“This analysis shows that, with London and the South East dominating economic growth, too many people are missing out on the chance of a decent job just because of where they live,” said TUC general secretary Frances O’Grady.
“That’s not sustainable, and it’s why more than ever we need an industrial strategy that delivers good jobs where they’re needed most.
“Britain needs great jobs, and all the political parties must explain in their manifestos how they will deliver growth in every corner of the country, not just the capital.”