Prosperous Leeds heads up the rich list

Leeds city centre skyline with Bridgewater Place.
Leeds city centre skyline with Bridgewater Place.
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LEEDS ranks as one of the most affluent cities in the country and is increasingly attractive place to live and work, a new report shows.

The city came fifth nationally above all other cities in the North and emerging as a challenger to London and the South East for affluence. It is called ‘prosperity’ hotspot in the Barclays’ map which also shows every region in Britain is more prosperous than last year.

But Yorkshire was right down near the bottom in the regional figures - eleventh out of 12 areas and just above the North East as the least prosperous region in the UK.

There were also fewer millionaires as a proportion of the population - 28,000 or 4.1 per cent - than the North West, but more than in the North East.

The report calculates regional scores based on an array of factors such as gross domestic product (GDP), house prices, charitable giving, working hours and average house prices.

The news comes despite economic uncertainty sparked by China’s economic slowdown, stock market turmoil and the Brexit vote.

Overall wealth, spending or earnings rose across the country in the 12 months to April 2016, while jobless rates dropped, according to map which is published today.

“The research shows that not only is the UK still ‘open for business’, it sends a clear message that all parts of the UK are sharing in, and contributing to its role as a driver of global prosperity,” said Akshaya Bhargava, chief executive of wealth, entrepreneurs and business banking at Barclays said.

Elsewhere in Yorkshire Sheffield saw some of the strongest turnover amongst small and medium sized businesses, up 11 per cent.

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Gareth Harris of RSM Restructuring Advisory LLP

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