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.

778-MWmap-634

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.

Recommended

Inflation: now we really have something to worry about
Inflation

Inflation: now we really have something to worry about

We’ve been worrying about a sharp rise in inflation for years, says Merryn Somerset Webb – now, we finally have something to worry about.
21 Jan 2022
UK inflation is at a 30-year high and it hasn’t peaked yet
Inflation

UK inflation is at a 30-year high and it hasn’t peaked yet

UK inflation has hit 5.4% - its highest in 30 years. And it could be heading higher. John Stepek explains what it means for you and your money.
19 Jan 2022
The UK jobs market is booming – but wages are struggling to keep up with prices
UK Economy

The UK jobs market is booming – but wages are struggling to keep up with prices

Britain’s jobs market is booming, with wages rising and plenty of of vacancies. But inflation is rising faster than wages can keep up. John Stepek loo…
18 Jan 2022
The difference between CPI and RPI inflation - and why it matters
Inflation

The difference between CPI and RPI inflation - and why it matters

The consumer price index (CPI) and retail price index (RPI) are both important indicators of inflation. But what is the difference and why do they mat…
17 Jan 2022

Most Popular

Shareholder capitalism: why we must return power to listed companies’ ultimate owners
Investment strategy

Shareholder capitalism: why we must return power to listed companies’ ultimate owners

Under our system of shareholder capitalism it's not fund managers, it‘s the individual investors – the company's ultimate owners – who should be telli…
24 Jan 2022
Three innovative Asian stocks to buy now
Share tips

Three innovative Asian stocks to buy now

Professional investor Fay Ren of the Cerno Pacific Fund highlights three of her favourite Asian stocks to buy now
24 Jan 2022
Ask for a pay rise – everyone else is
Inflation

Ask for a pay rise – everyone else is

As inflation bites and the labour market remains tight, many of the nation's employees are asking for a pay rise. Merryn Somerset Webb explains why yo…
17 Jan 2022