Economics

In the News

London's lead in income per head over the regions

Graham Watson

16th December 2016

This Guardian article highlights the extent of regional inequality - noting that over the past decade inequality has increased, with London increasingly well ahead of other regions.

Statistic: Employment figures for the City of London financial services sector in the United Kingdom (UK) from 2009 to 2015 | Statista
Find more statistics at Statista

Gross value added (GVA) per head was higher in London than any other region in 2015 at £43,629, dwarfing the figure for the lowest region, Wales, at £18,002 and double the level of £21,638 for the UK without London.

10.3% of London’s 2014 Gross Value Added came from Information & Communication industry.

In related news, the size of the gig economy in the capital is estimated to have soared in the last year.

There was better news for Northern Ireland with the news that Belfast experienced the strongest economic growth of any UK city in 2015, ahead of Edinburgh, Cardiff and London, measured by Gross Value Added.

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to Tutor2U, reads voraciously and is interested in all aspects of Teaching and Learning.

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