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In the News

Risks from UK Regional Growth Inequality

Graham Watson

4th December 2016

The Bank of England's Chief Economist, Andrew Haldane, has expressed concerns about the growth of regional inequality in the aftermath of the global financial crisis. London and the South-East are the only two regions that have seen incomes return to pre-crisis levels and that this has led to significant wage and productivity differentials.

However, he adds, the Bank of England doesn't have the tools to do anything about this. Over to you, Prime Minister

The BBC's Kamal Ahmed interviews Andrew Haldane and puts some flesh on the bones of the early article. It is remarkable that there are such sizeable differences in income across the UK: GDP per capita in London "is nearly 2.5 times higher than in Wales or the North East of England, where the figure is £18,000."

As a thought experiment, try thinking about which jobs pay £18,000 per head or less.

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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