Analysis by EY shows that while the economic divide between London and the rest of the country narrowed during the pandemic, the gap is set to grow again. London’s economy dipped by 3.6% from 2019 to 2021, with this more than the 3% decline recorded across the rest of the UK’s regions. However, between 2021 and 2025 London’s economic activity, as measured by gross value added, will rise by 3.1%, outpacing the 2.8% projected growth of the rest of the country. The report says that while the West Midlands, the North West and London were most affected by the initial phase of the pandemic, the capital is set to rebound but the West Midlands and the north are likely to recover at the slowest pace. Manchester, however, is expected to be the fastest-growing English city over the next three years.
The Daily Telegraph The Times
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