Belfast Telegraph

'Dominant' London and South East to expand economic presence

London and the South East will account for two fifths of the UK economy by 2022 if current trends continue, according to a study.

An analysis by the TUC found that by 2022, London and the South East will account for 40% of the UK economy, a rise of 2.5% 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, said the union organisation.

TUC general secretary Frances O'Grady 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.

"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."

Peter Dowd, shadow chief secretary to the Treasury, said: "It's a stark exposure of seven years of Tory economic failure that the regions which are left behind in government investment are consistently those in the north of England."