LEEDS will struggle to match the capital’s economic growth over the next decade despite the Government’s ‘northern powerhouse’ plan, according to a new report.
It predicts the Leeds economy will grow by 17 per cent by 2025 compared to London’s growing by more than 27 per cent.
The forecast casts doubt on the Government being able to deliver on its promise that the North of England will grow as fast as the rest of the country over the next five years.
The study was carried out by the Centre for Economic and Business Research and law firm Irwin Mitchell.
Paul Firth, managing partner of Irwin Mitchell Sheffield office, said: “The Yorkshire region is performing well at the moment but the city economies of Sheffield and Leeds are still not growing at the same rate as London and other cities in the South East.
“We believe it’s vital that the entire United Kingdom has the opportunity to flex its economic muscle.
“Not only do we want to see London continue to flourish, it’s absolutely vital that the rest of the UK doesn’t get left behind.”
Chancellor George Osborne is expected to lay out the next stages of his ‘northern powerhouse’ plan when he speaks at the Conservative Party conference in Manchester later today.
He recently led a trade trip to China with northern council leaders including Leeds City Council leader Judith Blake.