Almost half of households do not see benefits of economic growth, report says
A new report by PwC reveals that nearly half of UK households do not feel the benefits of economic growth, highlighting a persistent North-South divide in spending power. The findings challenge the effectiveness of current economic policies in improving living standards across all regions.
Why it matters
Regional inequality is a central issue in UK politics, and this data provides evidence of the disconnect between macroeconomic growth and individual household prosperity.
Image source, Getty Images By Michael Race and Mitchell Labiak , Business reporters Published 6 hours ago Almost half of people in Britain live in areas where economic growth does not translate into a better quality of life with a "stark" North-South divide in the spending power of households, a new report finds.
Researchers at consultancy firm PwC said every region the north of England, midlands and Wales had a lower spending power than the country's average, with London and the South East comfortably above.
The findings come as Prime Minister Andy Burnham has pledged to tackle the cost of living and regional inequalities in order to boost living standards.
But questions remain over the new PM's economic policies with surges in UK government borrowing costs set to impact public spending choices.
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