Liverpool races ahead in ‘good growth’ league table
A new economic report out today ranks Liverpool as the second most improved city in the country for growth over the last year.
The annual ‘Good Growth for Cities’ report from PWC sets out to show there’s more to economic well-being than just measuring GDP – instead looking at the performance of 42 of the UK’s largest cities, England’s Local Enterprise Partnerships (LEPs) and ten Combined Authorities, against a basket of 10 factors which the public think are most important when it comes to economic well-being.
It includes jobs, health, income and skills, as well as work-life balance, house-affordability, travel-to-work times, income equality, environment and business start-ups.
Liverpool has risen three places since 2018 – driven by new businesses and jobs – on the back of 11 years of improvements, helping it catch up with the national average in almost all variables, but especially in skills, new businesses and jobs.
Mayor of Liverpool Joe Anderson said: “One of my key messages has been that Liverpool is open for business, and we have been working really hard over the last few years to attract jobs and investment.
“I am pleased that despite all the uncertainties around Brexit and our own budget, we are now really setting the pace in making Liverpool a great place to live, work and visit.
“Everything we are doing is connected to driving inclusive growth which benefits everyone – whether it is investment in the roads, improving housing, replacing worn out schools or driving forward big regeneration projects such as Paddington Village and the new cruise liner terminal.
“I’ve always said that this city’s best years are ahead of it, and working with partners across the city region, I am determined we will redouble our efforts to make the Liverpool Powerhouse a reality.”
The Liverpool City region comes 6th of all Combined Authorities, with improvements in jobs, income and new businesses per head.
PwC partner and local government leader Jonathan House, commented: “In an era of political, technological and environmental disruption, cities and regions that want to get ahead, need to do things differently.
“Even with the uncertainty of Brexit, over the last year, local leaders have had significant success in delivering good growth in their cities and regions.
“Our research shows the need to take a comprehensive approach to growth, focusing on improving productivity to compete on a global stage, but also on ensuring fairness and inclusive growth so that people and places don’t feel left behind.
“Local leaders need to take a broad view on what economic success means, focusing on the outcomes they want to achieve in terms of inclusive growth, community resilience and improved experience, and crucially, having a plan to translate those ambitions into reality.
“Skills amongst the working age population, alongside the number of new businesses created, have seen the largest improvements; this is a result of leaders focusing on building new opportunities and investing in the talent of their city and region.
“The UK’s cities are known globally for their skills, innovation and entrepreneurial spirit. Our most successful cities don’t compete against other UK cities, they compete against cities across Europe, the Middle East and the US.
“As the UK’s position on the world stage shifts, cities and regions will need to reposition themselves too, and consider how they can stand out and compete globally, improve productivity and support innovation, while also creating places that are fair and inclusive.”