East England

  • The East of England has the second lowest unemployment rate in the UK, the region receives the least amount of growth funding and the Cambridge and Peterborough industrial strategy outlines how the Oxford – Cambridge arc is beginning to shape up

    July, 2019
    Unemployment in the East of England decreased by 9,000 to 91,000 between March and May, the decrease of 0.3% to 2.8% meant the region had the second lowest rate in the UK. At 2.6% the South West of England had the lowest rate and at 5.6% the North East had the highest rate in the country. The UK unemployment rate stands at 3.8%. The East of England’s average property price increased by 0.7% to £291,239 during the month which uplifted the annual growth rate to 1.0%. In comparison, UK prices increased by 0.1% to £229,431 during May which reduced the annual growth rate to 1.2%. Cambridge and Peterborough Business Board (formerly Greater Cambridge and Greater Peterborough LEP) has become one of the first regions to agree a local industrial strategy with the government. The 87 page document was developed by the Business Board in collaboration with local businesses and was signed off by Business Secretary, Greg Clark. The strategy included launching; a new trade & investment service which will co-ordinate government support and a service targeting inward investment, a new Cambridgeshire and Peterborough Growth Company, creating at least four new ‘Innovation Launchpads’ focused on key sectors such as agri-tech, artificial intelligence and advanced...