More gloom is revealed in an analysis of the city region’s population. There were, the report says, 67,000 fewer children in Merseyside in 2007 than in 1997. As of June, 2009, 6.2% of our working age population was also claiming Job Seekers’ Allowance. Though the report also says the combined populations of Liverpool’s universities grew by 4,000 students, to 53,000, between the 2005/06 and 2006/07 academic years and the number of businesses also went up.

But it says the step changes lie elsewhere. There could be up to 15,000 environment and technology sector jobs created if the city region capitalises on the low carbon economy. A further boost could come in the "superport" sector with the potential for 73m more tonnes of traffic being handled by the city region’s facilities. TMP also announced this week tourists and business visitors could spend £2bn here by 2020.

TMP chief executive Lorraine Rogers said: "The economic review shows how much the city region has achieved in the 10 years to 2007.

"Critically, it also shows what we must focus on if we are to achieve sustained economic growth and continue to close the gap in wealth generation between this city region and other parts of the UK. The rise in business start up rates detailed in the Review is encouraging, as is the growth of our student population."