London’s 'missing link' to the UK

15 November 2007

The benefits of the London economy are concentrated in the South East, but should be shared more with other regions of England, a think tank has claimed.

The report, London’s links, suggests trade could be improved by better transport links to the regions. It also argues the regional development agencies should do more to build economic links.

Talk of the financial power of the capital usually centres around the distribution of taxes, but the Centre for Cities claims this is a diversion. The real economic benefit of London lies in its power to trade with the regions. According to recent statistics from the City of London, the capital accounts for 19% of UK GDP and 15% of jobs.

Centre for Cities director, Dermott Finch, said: ‘London’s global strength is vital to the British economy – and our capital needs continuing investment, such as Crossrail, to maintain its success. ‘But new transport links are vital between other regions too, to ensure that trade between other regions and the capital grows. ‘At the moment, Reading makes more from London than Rotherham, and Brighton benefits more than Burnley,’ he said.

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London’s 'missing link' to the UK

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