London residents ware weathering the cost-of-living crunch better than people in the rest of the UK, one research group concluded.
Residents of the capital saw their real wages adjusted for inflation slip by £9 a week compared to a year ago during the fourth quarter of 2022, research from the Centre for Economics and Business Research indicates.
Added to that, modeling from the CEBR based on regional disparities in spending patterns implied that areas outside the capital—especially Northern Ireland and Scotland—were suffering the highest level of inflation. Improving public health imbalances would be important “not only to the individual, but also to the economy as a whole,” said Karl Thompson, an economist at CEBR.
During his premiership in 2021, Johnson unveiled the £4.8 billion Leveling Up Fund backed by the taxpayer, which would invest in infrastructure across the UK. A separate study from forecasting group the EY Item Club today warned that Chancellor Jeremy Hunt’s plan to tighten the public purse strings will deepen the UK’s recession.
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