City’s economic revival makes report

Sep 4 2008 by Alex Turner, Liverpool Daily Post

LIVERPOOL’S economic revival has been captured by a key report on competitiveness.

The UK Competitiveness Index highlights the improvements of the city, which rose 44 places in its list of 407 localities.

The report, produced by the University of Wales Institute, Cardiff, has found a significant improvement in the North West as a whole, which has overtaken Scotland and the West Midlands since 2006.

The report measured 15 factors, including the number of businesses, unemployment rates and gross value added per head, to produce an overall competitiveness score. The Institute has been tracking the data since 1997 and this is its fourth UK report.

Liverpool is now ranked 300th and was one of the biggest risers since 2006. The large improvement was caused by several factors, in particular a 5% rise in business density, which is now at 19 per 1,000 people.

Prof Robert Huggins, who wrote the report with Dr Hiro Izushi, said: “Although Liverpool is still ranked relatively lowly, its rise up the rankings, based on growing economic activity and workforce skills, is a clear signal of economic revival and growing prosperity.”

And he directly rubbished the Policy Exchange study published last month which said Liverpool was “struggling” and people living in the city should migrate south for better jobs.

“Our research strongly suggests that urban development in the UK is achieving a significant degree of success,” he said.

“Our findings question the validity of stimulating migration from the north to the south of the UK as a realistic mechanism for achieving economic regeneration and development.”

Mark Basnett, director of invest- ment at the Mersey Partnership, said: “There’s a momentum in Liverpool now and we have to con- tinue making this an outstanding place to invest in.”

alex.turner