In order for the Government to meet its goal of increasing the productivity of the national economy, it needs to make the most of our cities. Cities drive growth, accounting for over 60 per cent of economic output despite covering just 8 per cent of land. But not all cities are as well placed to grow as others, with some struggling to attract employers and so provide jobs.
The Fast Growth Cities group, comprised of Cambridge, Oxford, Milton Keynes, Swindon and Norwich, contains some of the UK’s most successful cities. These cities perform strongly on a range of economic indicators, including productivity and share of knowledge-based jobs. Their ability to attract these knowledge-based businesses puts them in a strong position to continue to grow in the future.
This report looks at the economic contribution of the Fast Growth Cities to the UK, highlighting their shared and distinctive economic characteristics that make supporting these cities important. It also examines the key barriers to growth the cities are increasingly facing, and that need to be overcome to allow these cities to continue to contribute to the UK economy at the rate they have been.