Damning report lays bare lack of investment in North of England compared with rest of the world
The North of England receives one of the lowest levels of investment among advanced economies, lagging behind nations like Slovakia, Poland and Hungary, a damning report has revealed.
States including Slovakia, Poland and Hungary all enjoy more investment than the UK. Were the OECD average applied to the UK for 2017-2020, some £397 billion more would have been invested. Bids worth £60m in Trafford, Wigan and Oldham were successful but in Greater Manchester along time-consuming applications worth £276m were rejected by government Ministers.
Today's IPPR North report highlights the extent of regional disparities, including that productivity is around £7 lower per hour worked in the North than the England average, and hourly pay is £1.60 lower than in the rest of England. The report points to other floundering places in the world that have turned their economies around, such as Leipzig in Germany, which has become the fastest-growing city in Europe through industry and investment.
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