A recent study by the Centre for Cities has uncovered the UK towns and cities experiencing the fastest growth in disposable income. The report reveals that living standards in 11 top-performing areas surged by 5.2% since 2013, outpacing the national average of 2.4%.
Brighton emerged as the top performer with an impressive 8.1% increase in disposable income, followed closely by Worthing at 7.8% and London at 5.8%. These regions collectively witnessed a remarkable 27% economic growth between 2013 and 2023, compared to the national average of 18.4%, resulting in a 5.2% rise in real disposable income.
According to researchers, if all 63 of the UK’s largest cities and towns had matched the growth rate of the top performers since 2013, residents would have seen an average increase of £3,200 in disposable income during the decade. However, some areas like Cambridge, where real disposable incomes fell by 3% since 2013, could have seen residents pocket an extra £10,900 if they had matched the top performers.
In contrast, residents of Wigan, experiencing a 1.6% decline in real disposable incomes since 2013, could have benefited from an additional £7,200. Andrew Carter, the CEO of Centre for Cities, emphasized the importance of economic growth in boosting household incomes over short-term cost-of-living fixes.
Carter highlighted the significance of government policies focused on skills, transport, housing, and business support in driving economic growth and improving living standards. He stressed the role of planning reforms, devolution initiatives, and the Industrial Strategy in fostering growth across cities and enhancing local economies year after year.
Looking ahead, Carter echoed the Prime Minister’s call for political actions to spur job creation, wage growth, and economic development in various regions of the country by the end of 2026. The aim is to demonstrate tangible progress in enhancing living standards and economic prosperity nationwide.