Oxford is the greatest city in the UK for economic growth, according to a new index.
The PWC Good Growth for Cities 2016 index found that Oxford and Reading continued to dominate the top of their rankings, opening up a substantial gap between them and the rest of the field.
The report explained:
This reflects continued improvement across a range of measures in each of these cities, such as jobs, income and skills, during the recovery from the financial crisis. It is also indicative of the health of the business sector in these cities, which results in strong performance in the revised ‘new business start-up’ variable.
Edinburgh and Aberdeen featured in the top ten highest performing cities within the index.
View the interactive map below for full rankings:
The index formed of a number of characteristics of an area, including:
- Secure jobs
- Adequate income levels
- Good health (so as to be able to work and earn a living)
- Time with family/work-life balance
- Affordable housing
- High levels of entrepreneurship and new business start-ups
- Good quality transport systems (road and rail in particular)
- Providing for the future through the potential to be in employment and earn a living
- Protecting of the environment (e.g. carbon emission reduction, preserving forests)
- Fair distribution of income and wealth
The report concluded:
Economic inequality and social mobility can no longer be seen as a side-issue but must be placed at the heart of devolution policy. Only by focusing on good growth, will a place – be it a city, town, county or neighbourhood – be sustainable.
While good growth requires collaboration across a wide range of stakeholders in a place, our agenda for action focuses on the three key players: local institutions, central government and the private sector. Each has a critical role to play in making good growth a reality on the ground in cities across the UK