16 November 2007
England's northern regions benefit little from the capital's economic success compared with their southern counterparts, according to a think-tank report.
London's Links, published by the Centre for Cities on November 12, found wide variations in the gains regions receive from London's economic success.
The capital imports more than £100bn in goods and services from other regions each year, supporting jobs in those areas. But the regions closest to the capital, the Southeast and East, do best out of this trade, netting a total of £44.5bn in sales each year, according to the report.
The Northeast and Yorkshire & the Humber fare worst, securing sales worth £2.6bn and £7.6bn respectively — in total, less than a quarter of the two highest performers.
Centre for Cities director Dermot Finch said: 'London's global strength is vital to the British economy… But new transport links are vital between London and other regions too, to ensure that trade between other regions and the capital grows.'
PFnov2007
