Growth does not boost living standards for 46% of households |
| Almost 46% of households in Britain live in areas where economic growth does not improve living standards, according to a new report by PwC. The North-South divide is stark, with regions in the North and Midlands showing lower spending power than the national average. Spending power is 6.6% below the national average in the North East, £1,493 lower in the North West and £1,917 lower in Yorkshire and the Humber, while the South East is 9% above average. Rachel Taylor from PwC said the research "shows just how differently prosperity is experienced across the UK." The report calls for local authorities to retain more revenue from local growth to enhance community prosperity. |
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