The growth conundrum: The importance of cities to economic growth in the UK

Certain cities are already the driving forces behind regional and national growth and policies that release the potential of these cities can drive UK prosperity.

Briefing published on 20 March 2011 by Centre for Cities

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As the UK and much of the developed world emerges from the economic turmoil caused by the financial crisis, it is increasingly clear that it will be a bumpy road to economic recovery. The surprise dip in GDP in Q4 2010 has affected public confidence, at home and abroad, while business leaders have expressed concern about what they describe as a lack of a clear growth strategy from the Government. These developments are compounding the Government’s sense of urgency about using the 2011 Budget to set out a plan to support economic growth, supporting the creation of more jobs as well as the reduction of the budget deficit.

Yet in a climate of fiscal austerity, it is a challenge for the government to target its policies and resources in a way that maximizes the UK’s potential for growth. This note sets out the evidence demonstrating why cities are a critical part of the answer to this conundrum. Certain cities are already the driving forces behind regional and national growth. Policies that release the potential of these cities can drive UK prosperity and create more opportunities for UK residents across the country, including for areas with lower economic potential.

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