North East

  • The value of North East Enterprise Zones queried, more money for the Borderlands Growth Deal and depopulation concerns in North East coastal towns

    July, 2019
    Unemployment in the North East was unchanged at 71,000 between February and April but at 5.6% it was still the highest in the UK. At 2.6% the SW of England had the lowest rate in the country. The UK unemployment rate stands at 3.8%. After North East average property prices surged by 5.0% in April, this month prices reversed by 1% to £127,885, which meant annually prices dropped by 0.7%. In comparison, UK prices increased by 0.1% to £229,431 during May, which reduced the annual growth rate to 1.2%. In its review this month of the 38 Local Enterprise Partnerships (LEPs) - the private sector-led partnerships between businesses and local public sector bodies that support local economic growth - the Public Accounts Committee of the House of Commons found that from 2015-16 to date; £9.1bn of taxpayers’ money has been awarded to LEPs through three tranches of Growth Deals. The north of England, with 11 LEPs, has received most of the funding at £3.4bn (38%), the East of England, with three LEPs, has received the least with £703m, and London, with one LEP, has received £435m. The Ministry of Housing, Communities and Local Government considers the population of an area as well...