PwC Report Highlights Stark North-South Spending Power Divide in England
- Reports
- 2
- Developments
- 4
- Repetition
- 50%
New informationRepeats or wire copies
What happened
Andy Burnham pledged to tackle regional inequalities and the cost of living in England. A new report by PwC found that 46% of people in Britain live in areas where economic growth does not translate into better living standards. The report noted that households in Yorkshire and the Humber had spending power down £1,917 annually compared to the national average.
From yahoo.com
Why it matters
The findings expose a significant North-South divide in economic prosperity across England. Households in the North East were found to have spending power 6.6% below the national average, while those in the South East had 9% above the national average.
The UK government is reviewing funding models for England, recognizing the need for essential cities to drive national growth while addressing capital city pressures in London.
From yahoo.com
Who's involved
- Andy BurnhamBritish politician who pledged to address regional inequalities in England
- EnglandThe geopolitical state where the regional spending power disparities were studied
- YorkshireA region identified by the report as having low household spending power
- North EastA region identified by the report as having spending power below the national average
- HumberA geographical location included in the study of regional spending power
- LondonA location noted for having household spending power above the national average
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- North EastSpeculative
Could see reduced consumer demand if household spending power remains below the national average.
- EnglandSpeculative
Could face increased pressure on public spending choices due to surges in government borrowing costs.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- Ofgem may adjust energy prices amid regional cost of living divideOfgem may face pressure to adjust energy pricing to address regional cost of living dividesPossible
- How could the pledge to tackle regional inequalities affect Rachel Reeves?Chancellor must adjust fiscal policy to address regional spending power gapsPossible
- The House of Commons may debate and legislate new funding models for EnglandThe House of Commons may debate and legislate new funding models for EnglandPossible
How it developed
Newest first. Tap a step to see who reported it.- Pub closures were reported in the North West (39) and North East (11) of England.Sub-event
- Scott Martin works for Karbon Homes in the North East, and funding supports properties across North East and Yorkshire.Sub-event
- Lending analysis shows London sectors receive higher average lending while North East sectors receive lower average lending, with Humber included in the study.Sub-event
Pledge made to address regional inequalities across England, including the North East and Yorkshire/Humber.1 source
Keep exploring
Part of
Regional economic disparities and social care reform in EnglandAlso in this story
- PM Keir Starmer observed London's high street rejuvenation, noting that both London and Leeds face significant transport and high street challenges.
- The University of Leeds launched a new LFIX program, supported by the Northern Square Mile Board and UKRI funding.
- Researchers study regional health inequalities and the concentration of power in London, noting failed outcomes in certain regions.
- UK ports are attracting significant investment while ONS figures reveal a 2.1% fall in goods exports.
The entities involved
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England
country in north-west Europe, part of the United Kingdom
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North East
town in Cecil County, Maryland, United States
Nothing else this week.
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Humber
large tidal estuary in England
Nothing else this week.