MoneyWeek map: Britain’s richest and poorest cities
Chancellor George Osborne’s plan to build a “northern powerhouse” could be an uphill struggle, judging by the latest report from the Centre for Cities think tank.
Chancellor George Osborne's plan tobuild a "northern powerhouse" couldbe an uphill struggle, judging by thelatest report from the Centre for Citiesthink tank. It notes that 29 of the UK's63 largest cities (excluding Belfast) are"low-wage, high-welfare economies" with average wages below the UKaverage of £504 a week (for 2014), andwelfare spending above the UK averageof £3,358 per head (for 2014/2015).
Nineof the ten worst on this measure arein northern England and the Midlands.Hull's citizens are the worst paid, ona weekly average of £376. Blackpoolreceives the most in welfare spending,at £4,338 per head.
The 14 cities with above-average wagesand a below-average welfare spendingare mainly in southeast England, plusAberdeen and Edinburgh in Scotland.London wages are the highest at £629a week. Cambridge has the lowestwelfare spending at £2,121 per head.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Christmas at Chatsworth: review of The Cavendish Hotel at Baslow
MoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
By Dr Matthew Partridge Published
-
Tycoon Truong My Lan on death row over world’s biggest bank fraud
Property tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
By Jane Lewis Published