uk challenge - two speed economy

Two speed economy

Two speed economy refers to the uneven economic growth across the uk in the south east and london & the rest of the uk  

The SE and london is the wealth core region :

• with higher wages
• higher household wealth
• faster economic growth]more government invetsment to improve infrastructure 
• It therefore attracts new investments from businesses and best educated/skilled migrants which further develops the SE 

Impacts of 2 speed economy: 

SE: Higher wages, higher crime rate, higher house price, big poverty gap in london, higher living costs eg) petrol

The rest of the uk : Lower wages, lower % richer households, lower crime rate, lower house prices 

Bridging the gap of the two speed economy :

BBC salford Quays - it has moved to manchester, this stimulates the eocnomy of NW allows people to get jobs (high and low) 

HS2 - proposed high spped rail link to shroten the joruney time between london and key northern cities this allows people to commute to london fro work as many cannot afford to live in london 

Northern powerhouse…