Brighton and Hove will be one of Britain’s fastest-growing cities by the end of next year, according to a report published today (Monday 16 May).
But the city is not among the 10 locations tipped for the highest rates of job growth.
Law firm Irwin Mitchell asked the Centre for Economics and Business Research (CEBR) to analyse the prospects for more than 50 cities over the coming 18 months.
Most of the cities with the fastest-growing economies are in the south east of England, prompting a warning about risks to the government’s levelling up agenda.
The downside, which has been touched on by members of the Greater Brighton Economic Board, is that the share of government financial support for key projects could dwindle.
The report warned that the government’s levelling up agenda will fail to take off unless more is done to help local economies in other parts of the country.
Irwin Mitchell said that the dominance of London and the south east for foreign direct investment contributes to the contrast in economic outcomes between the north and south of England.
One of the report’s authors, Josie Dent, said: “The economy is still expected to face some turbulence between now and the end of next year, notably through volatility in commodity prices, supply chain pressures and the emerging cost-of-living crisis domestically.
“This report highlights that much of the fastest growth during next year will be concentrated in the south.
“Locations such as Milton Keyes, Cambridge and Oxford have economies which are dominated by fast-growth sectors and they have also been hotspots for overseas investment.
“If economic levelling up is to be tackled effectively, these two issues must be recognised and quickly addressed.”
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