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disposable income 11 towns and City Growth is twice as fast compared to other regions U.K.overcoming a decade of slow growth living standard Since 2013.
In the following areas: warringtonIn Bristol, Barnsley and Brighton, residents’ disposable income will increase by an average of 5.2% between 2013 and 2023, compared with a national increase of 2.4%.
New research from think tanks city centerfound that if all 63 of the UK’s largest towns matched this growth rate, residents’ disposable income would increase by an average of £3,200 over the period.
The organization stated government Policies that promote economic growth need to be implemented. “By focusing solely on addressing symptoms, governments risk overlooking underlying causes. The problem causing cost of living pressures, stagnant incomes and persistent poverty is insufficient economic growth,” the report said.
“Redistributing the existing pie will not achieve ‘everyone everywhere’ improvements in living standards. Making the pie bigger is the only way forward.”
The report found that the strongest performing areas focused on building stronger local economies, improving employment opportunities through skills support and improved transport links, and reducing restrictions on housing and commercial space.
The best performing city was Brighton, with total disposable income increasing by 8.1% between 2013 and 2023.
The 11 towns have also experienced economic growth of 27% over the past decade, compared with national economic growth of 18.4%, with Warrington having the highest overall economic growth of 41%.
The report also found that residents from areas where real living standards have declined are missing out on significant sums of money. Real disposable income of Cambridge residents has fallen by a total of 3% since 2013, and if the city could match the best-performing cities, residents would have earned £10,900 more over the decade.
Center for Cities chief executive Andrew Carter said: “The Government’s focus has understandably turned to the cost of living in recent weeks, but ultimately it is stronger economic growth that will lift household incomes. Without growth, solutions to the cost of living will only be temporary.”
“Nationally, living standards have increased as much over the past decade as they did in a single year before 2008.”
Mr Carter said economic growth in areas such as Warrington and Barnsley had translated into higher household incomes and less poverty. He added: “This is no accident: it is determined by policy choices around skills, transport, housing and business support.”
He said cities needed to support more jobs in areas such as life sciences, digital and artificial intelligence. “The concentration of these jobs in urban areas also brings benefits to those working in the ‘day-to-day economy’,” Mr Carter said.
“As the Prime Minister said, 2026 needs to be the year ‘politics shows it can help again’. The test at the end of the year will be whether we see more jobs, higher wages and stronger local growth in more parts of the country.”
The Department of Housing, Communities and Local Government has been contacted for comment.