SPERI’s latest Brief considers the post-financial crisis structure and performance of three city-region economies, centred around Sheffield, Brighton and Oxford. It explores a range of economic indicators for each city-region economy over the last decade and assesses the impact of the crisis and recovery in each area.
The Brief, by SPERI’s Policy Research Officer Tom Hunt, highlights significant differences between Sheffield City Region’s economy and the two southern regions including a lower employment rate; output per head that is over 40% lower than Oxfordshire and 25% lower than the Brighton region; a disposable income level per head £5000 lower than the southern regions, and lower pay growth over the last decade.
The weaker post-crisis performance of Sheffield City Region identified in the Brief is an indication that the decades-long trend of the South of England significantly outperforming the North persists. Further, the Brief contributes to the increasingly prevalent view that the UK economy has not been ‘rebalanced’ away from London and the South East, nor is in the process of being ‘rebalanced’.