What You Need to Know in May 2025

UK Productivity Lags Behind US Amid Broad Sectoral Decline, Says Resolution Foundation

The Resolution Foundation's report, "Yanked Away", reveals that UK productivity has worsened since the pandemic, with GDP per hour worked declining by 0.5% between 2019 and 2024. This downturn spans 13 sectors comprising 63% of UK output. In contrast, the US experienced a 9.6% productivity increase during the same period, driven by sectors like oil and gas extraction and professional services. The report underscores the need for increased investment and innovation to reverse the UK's economic stagnation.

UK Public Service Productivity Shows Modest Growth Amidst Ongoing Challenges

According to the latest data from the Office for National Statistics, UK public service productivity increased by 4.0% in 2022, following a revised 7.3% rise in 2021. This growth was driven by a 3.5% decrease in inputs, the largest since 1997, and a 0.4% rise in output, primarily due to improved service quality. Despite this, productivity remains approximately 4.1% below pre-pandemic levels. Healthcare and education sectors were the main contributors to this growth.

Social Capital: The Hidden Wealth of Nations

A new report by Andy Haldane and Professor David Halpern argues that investing in social capital—trust, networks, and community connections—can significantly boost the UK's economy and social wellbeing. The study suggests that increasing social trust to Nordic levels could add over £100 billion annually to national output. It also highlights that stronger communities lead to better educational outcomes, reduced crime, and improved mental health, urging policymakers to prioritise social infrastructure alongside physical capital.

Creating Healthy Jobs to Boost UK Economy

A University of Warwick report highlights that poor job quality costs the UK economy up to £41 billion annually due to job-related ill health. Improving job design could enhance worker health, boost productivity, and reduce public spending. The report calls for policy changes to create healthier jobs, benefiting both workers and the economy.

SMF Report Highlights Economic Growth in UK Towns

The Social Market Foundation's report, "Going for Growth," introduces a new Growth Benchmark to assess economic performance in UK towns. It identifies thriving towns excelling in digital growth, accelerator towns with rapid economic expansion since 2019, productivity champions near major economic centres, and dynamic trading hubs with strong consumer activity. The report underscores the importance of towns in driving national economic growth and the diverse factors contributing to their success. No towns in the WMCA area featured in the top ten lists.

Government Unveils Record £13.9 Billion R&D Investment to Drive Innovation and Economic Growth​

The UK government has announced a record £13.9 billion investment in research and development for the 2025/2026 financial year, aiming to boost innovation, job creation, and economic growth. The Department for Science, Innovation and Technology (DSIT) will allocate this funding to support transformational R&D in areas such as life sciences, green energy, engineering, and space. UK Research and Innovation (UKRI) will receive £8.8 billion to drive forward research that could transform lives and help make the NHS fit for the future. Projects include developing blood tests for early dementia diagnosis and establishing advanced wind power testing facilities. Public investment in R&D is estimated to leverage double in private investment in the long run, with businesses receiving their first R&D grant funding seeing jobs and turnover increased by over 20% in the following six years.

Smarter Industrial Policies Needed to Unlock UK Growth

A report from the Competitions and Markets Authority reviews the UK's historical industrial policies, finding limited national impact on employment, investment, and R&D. While tax credits proved more effective than direct interventions, industrial policies mainly benefited already highly productive sectors. Positive regional employment effects were noted but stemmed mostly from labour mobility. The report urges targeted support for high-growth sectors like clean energy and advanced manufacturing, stressing the need to address investment and skills bottlenecks.

IPPR Advocates for Regional Green Industrial Strategy to Drive Net Zero and Economic Growth

The Institute for Public Policy Research (IPPR) urges the UK government to develop a place-based green industrial strategy that leverages regional strengths to achieve net-zero targets, stimulate economic growth, and address past deindustrialisation. The report highlights the importance of empowering local communities, investing in clean industries, and fostering innovation to create good jobs and reduce regional disparities. It calls for a coordinated approach that aligns national and local efforts to build a sustainable and inclusive economy.

Resolution Foundation Outlines Practical Framework for Effective UK Industrial Strategy

The Resolution Foundation's report, "How to Do Industrial Strategy", provides a comprehensive guide for UK policymakers aiming to enhance private investment and productivity. It proposes 20 actionable policy tools, including sector-specific deals, reforming planning regulations to boost urban productivity, and leveraging innovation hubs like Catapults and Challenge Funds. The report emphasises the need for a balanced approach that combines top-down strategic direction with bottom-up engagement from businesses and local communities.

Emerging Technologies Set to Add £76 Billion to UK Economy by 2028

A recent study commissioned by the Government Office for Science and conducted by PwC UK projects that investments in 15 emerging technologies could contribute approximately £76 billion to the UK economy between 2023 and 2028. These technologies encompass areas such as artificial intelligence, quantum computing, robotics, and synthetic biology. The report emphasises that while these technologies hold significant promise for enhancing productivity and economic growth, their successful adoption depends on factors like technical feasibility, workforce skills, and regulatory support. To navigate uncertainties, the study outlines three scenarios, baseline, optimistic, and pessimistic, highlighting the need for strategic planning to fully realise the potential benefits of these technological advancements.

Study Highlights Need for Balanced Productivity and Governance to Revitalise Lagging Regions​

A recent academic study argued that effective governance is crucial for addressing economic inequality, but its uneven distribution hampers progress. England's attempt to tackle spatial inequality through asymmetric decentralisation reveals a 'devolution periphery' in the east and west, lagging in both productive and governance capacity. This contrasts with a governance core in the north and a productive core in the south, with Greater London excelling in both. Historical comparisons with France, Germany, and Italy highlight key risks, predicting further decline for England's periphery.

Clear Industrial Strategy needed to Drive UK Innovation and Growth

A new report by the Resolution Foundation underscores the need for a structured industrial strategy to boost UK productivity and growth. It calls for targeted support for high-growth sectors, investment in disruptive technologies like AI and quantum computing, and stronger public-private partnerships through sector deals. The report recommends expanding R&D centres, enhancing management skills, and addressing national challenges like climate change with coordinated innovation funding. It outlines 20 tools to deliver a place-based, forward-looking strategy.

IPPR Calls for Strategic AI Innovation to Address UK Deployment Gaps

The IPPR has identified significant gaps in the UK's artificial intelligence (AI) deployment, despite a growing number of AI firms. A new database of 3,256 AI companies reveals that many are not aligning with the government's strategic missions, such as improving public health and environmental sustainability. IPPR urges policymakers to implement targeted incentives and reforms to direct AI innovation towards these societal challenges, ensuring that AI contributes positively to the UK's economic and social objectives.

How the UK Can Be a Global Leader in the Arts and AI

A report by the Tony Blair Institute for Global Change argues that the UK must modernise its approach to copyright and AI to remain a global leader in both creativity and technology. As AI reshapes industries, including the arts, outdated laws risk stifling innovation and harming creators. The report supports balanced reforms, like opt-out data mining rules, and proposes a Centre for AI and Creative Industries to align progress with human expression, ensuring the UK thrives in the AI era.

UK Hospitality: Social Productivity Index

A report by UK Hospitality calls for a broader approach to UK economic growth, highlighting the vital role of foundation sectors like hospitality, retail, and logistics. These sectors support social mobility, offer widespread employment, and fuel inclusive, geographically balanced growth. Hospitality, the top socially productive sector, contributes £140 billion annually, employs 3.5 million people, and supports regeneration nationwide. The Social Productivity Index urges policymakers to recognise this wider impact and align growth strategies with social equity and opportunity for all.

UK Government Eyes Defined Benefit Pension Surpluses for Economic Growth

The Social Market Foundation reported that high interest rates have created surpluses in defined benefit (DB) pension schemes, prompting the UK government to consider releasing these funds for economic investment. Local and regional governments could benefit from increased tax revenues and investment in public projects. However, the actual amount available and its impact on government finances remain uncertain.

ONS Methodology Change Reveals £2 Trillion Drop in UK Household Wealth

The Institute for Fiscal Studies reports that a recent Office for National Statistics methodology change has reduced UK household wealth estimates by £2.2 trillion for 2018-2020. The revision, primarily affecting pension valuations, includes both improvements and a major error that subtracts £2.3 trillion due to flawed economic reasoning. This adjustment impacts the reliability of wealth distribution data, particularly between age groups, and raises concerns about the accuracy of future policy decisions based on these statistics.

IFS Questions Reliability of Data Showing Decline in UK Living Standards

The Institute for Fiscal Studies highlights concerns over the latest Department for Work and Pensions statistics, which indicate a significant decline in UK household incomes for 2023-24. The IFS suggests that the reported drop, particularly among the poorest households, may be due to lower survey response rates and potential inaccuracies in data collection methods. This raises doubts about the true extent of income declines and underscores the need for more reliable economic statistics to inform policy decisions.

IFS Study Reveals Regional Variations in UK Living Standards

The Institute for Fiscal Studies' report shows significant regional disparities in living standards across the UK, measured by average household consumption. The City of London tops the list with the highest spending, while Leicester ranks lowest. The study highlights that within-region differences can be as pronounced as those between regions, with affluent areas like Richmond upon Thames contrasting sharply with poorer areas like Barking and Dagenham. Consumption in the WMCA area is low in comparison to the rest of Great Britain, with highs in Solihull and lows in Sandwell. These findings challenge traditional income-based assessments of regional inequality.

The Reality Behind Falling UK Living Standards

A blog by the National Institute of Economic and Social Research (NIESR) explores how the cost-of-living crisis is affecting low-income households and benefit recipients. Community researchers recruited by NIESR found that many households are unable to meet basic needs, even when working full-time, due to insecure jobs, inadequate benefits, and high childcare costs. Participants spoke of debt, housing instability, and going without essentials. The blog also highlights a severe drop in housing affordability—by 2022, only 5% of private rentals were affordable on housing benefit, down from nearly 20% in 2020—making it increasingly hard for low-income families to secure stable housing.

Hidden Impact of Benefit Cuts on Ill and Disabled Revealed

Documents published alongside the spring statement revealed that government benefit cuts will push 250,000 people, including 50,000 children, into poverty. New Economics Foundation (NEF) analysis indicates the cuts will affect ill and disabled people by nearly £2bn more than reported, potentially pushing 100,000 additional people into poverty. The government’s figures were misleading, factoring in the cancellation of an unimplemented policy. The true impact includes £7.5bn in losses for ill and disabled people by 2030, despite claims of mitigating employment support.

Geographical inequalities and sub-national funding in France

A report by the University of Birmingham explores how funding mechanisms can reduce spatial inequalities in the UK, drawing lessons from France’s decentralisation reforms. Based on research and expert interviews, it highlights the complexity of merging institutions, the challenges of equalisation measures, and the need to consider both institutional and lived geographies. France’s redistributive model and local fiscal autonomy offer insights for the UK in promoting fairer growth, especially through targeted support for disadvantaged areas.

Gamified Pilot Shows Promise in Boosting SME Productivity Through Strategic Thinking

A new report from the Productivity Institute highlights the success of a pilot study aimed at improving SME productivity through a gamified “Strategy Bootcamp.” The light-touch intervention increased strategic engagement, with more participants planning regular strategy meetings. Designed to overcome common SME barriers like time constraints and lack of strategic skills, the study suggests scalable digital tools can effectively encourage SMEs to begin their productivity journey and lays groundwork for broader implementation.

Hybrid Working Shifts Spending Away from City Centres

A Centre for Cities report reveals that hybrid working has led to a decline in worker spending in city centres, with suburban supermarkets benefiting the most. Despite predictions, local spending has not significantly increased, and after-work socialising has decreased outside London. The report highlights the need for city centres to adapt to these new spending patterns.

West Midlands Secures Share of £1.35 Million to Boost Visitor Economy

The West Midlands is set to receive a portion of a £1.35 million funding boost, alongside the North East, to enhance its visitor economy over the next year. This investment aims to attract more tourists, increase spending, and create jobs by supporting Destination Development Partnerships. The initiative builds on the region's record-breaking tourism figures, with 145.4 million visitors in 2023 contributing £16.3 billion to the local economy.

EcoFlow Chooses Birmingham for New UK Headquarters, Creating 35 Jobs

EcoFlow, a global leader in portable power and renewable energy solutions, has announced plans to establish its UK headquarters in Birmingham’s Innovation Birmingham campus. The move will create 35 jobs in engineering, marketing, customer service, and business development. This expansion aligns with EcoFlow's commitment to the UK's green energy transition. The deal was facilitated by West Midlands Mayor Richard Parker during a trade mission to China, and EcoFlow will join the West Midlands Global Growth Programme.

UK Economic Growth at Risk as Workforce Inactivity Rises​

A report by PwC reveals that the UK is experiencing a significant rise in economic inactivity, with approximately 12,000 individuals leaving the workforce each month since late 2019. The study, based on surveys of over 4,000 individuals and 350 businesses, identifies mental health issues, long-term sickness, and low self-esteem as primary factors driving this trend. Notably, 10% of workers are considering leaving their jobs, equating to around 4.4 million people. The report emphasises the need for early intervention and collaborative efforts between businesses and government to retain talent and sustain economic growth.

Young People with Mental Health Issues Face Economic Inactivity

A new report from the Keep Britain Working Review shows that young people with mental health conditions are nearly five times more likely to be economically inactive than their peers. The analysis, led by Sir Charlie Mayfield, highlights rising economic inactivity due to ill-health, particularly mental health issues. It underscores the need for early intervention, improved prevention, and stronger collaboration between government and businesses. Addressing these issues could contribute up to £150 billion annually to the UK economy.

Centre for Social Justice Urges Welfare Reform to Tackle UK's Economic Inactivity Crisis

The Centre for Social Justice's (CSJ) 2025 report, ‘How To Get Britain Working’, warns of a growing economic divide, with over three million people claiming benefits without job-seeking obligations—double the figure from January 2022 (no regional breakdown provided). The report highlights a surge in long-term sickness-related unemployment and forecasts a £70 billion annual spend on disability benefits within five years. It advocates for urgent welfare reforms, including the nationwide rollout of Universal Support, to re-engage the economically inactive and reduce the escalating welfare burden.

Foreign-Born Workers Face Precarious Employment in UK

The Resolution Foundation's report, "Precarious Prospects," highlights that foreign-born workers in the UK, especially recent arrivals, are disproportionately engaged in precarious work such as zero-hours contracts and gig economy jobs. These workers face higher risks of unlawful treatment and financial instability. The report calls for stronger protections, including enabling foreign-born workers to report mistreatment without immigration repercussions, to prevent a two-tier workforce and improve overall labour standards.

Escalating School Exclusions and Lost Learning​

A report by the Institute for Public Policy Research (IPPR) and The Difference highlights a growing crisis in England's education system, with over 32 million school days lost in 2022/23 due to exclusions, suspensions, and absenteeism. The study reveals that children from disadvantaged backgrounds are disproportionately affected, exacerbating social inequalities. It advocates for a comprehensive approach to inclusion, emphasising leadership, community collaboration, and measurable outcomes to address the root causes of disengagement and reduce the reliance on punitive measures.

Rethink of Education Priorities to Boost Wellbeing and Academic Success

The Social Market Foundation calls for an education strategy that balances pupil wellbeing with academic achievement, rejecting the idea of a trade-off between the two. The report finds that happier students tend to perform better and stay more engaged. It advocates reducing high-stakes exams, creating supportive school environments, and implementing national wellbeing monitoring. Participation in international wellbeing benchmarks is also recommended to improve strategies and outcomes across UK schools.

Cuts to Disability Benefits Hit Labour Heartlands Hardest, JRF Finds

The Joseph Rowntree Foundation's analysis reveals that the UK's proposed cuts to sickness and disability benefits will disproportionately impact Labour's heartlands, where the highest proportion of working-age people receive health-related social security. The cuts, amounting to nearly £7 billion annually, will affect over 3 million families, pushing many into poverty. Public opposition is strong, with 58% against the cuts, fearing increased hardship and questioning the government's rationale that these measures will help people into work.

Young People's Wellbeing in England Declines

A new report from the Social Market Foundation highlights a decline in the wellbeing of young people in England, with significant disparities across gender and sexual orientation. The #BeeWell survey, involving over 56,000 participants, reveals that mental health issues are rising, and life satisfaction is low. Local governments are urged to use this data to implement targeted interventions to improve youth wellbeing.

Regional Housing Challenges Demand Tailored Policy Solutions

The Institute for Public Policy Research (IPPR) argues that England's housing crisis cannot be addressed solely by increasing supply. A report released in April highlights that regional disparities in affordability, tenure, and quality necessitate a place-informed approach. Merely building more homes at current or 80% market rates will not resolve these issues. The West Midlands struggles particularly with a low proportion of energy-efficient dwellings, it has experienced the biggest raise in house-purchase unaffordability for lower-income earners and has high levels of private rentals. The IPPR calls for policies that empower local authorities and strategically address housing needs specific to each region.

Resolution Foundation Urges Inclusive Policy for Heat Pump Rollout to Aid Low-Income Households

The Resolution Foundation's report, "Turning Up the Heat", examines the UK's transition from gas boilers to heat pumps, highlighting its uneven progress. In 2024, fewer than 100,000 heat pumps were installed, with 45% concentrated in affluent areas. While heat pumps offer long-term savings, they currently increase energy bills for most households. The report calls for proactive policies, including subsidies and regulations for rented properties, to ensure equitable access and affordability in the decarbonisation of home heating.

Heat Pumps Could Cut Bills and Boost Home Value, But Public Awareness Lags

A new report by WPI Strategy, for HomeServe UK urges the government to reframe the conversation around heat pumps to boost adoption. While heat pumps can save households up to £482 annually and potentially raise home values by 2.4%, a lack of public awareness and concerns over high upfront costs remain major barriers. Polling shows one in four people have never heard of a heat pump, highlighting the need for clearer communication and support.

Energy Efficiency Standards in the Private Rented Sector, Fair and Effective Local Implementation 

A report by E3G highlights challenges in enforcing private rented sector standards, based on interviews with 30 national and local stakeholders. It finds under-resourced professionals struggling to uphold vital safety and energy rules. With stronger enforcement, these standards could improve health for 7 million renters and cut bills. E3G proposes five key reforms, including a national landlord register, simplified enforcement, targeted grant support, and stronger tenant rights, urging government to deliver a joined-up strategy to ensure compliance and real impact.

How Affordable Private Rents Can Help Tackle Health Inequalities and Homelessness

A report by Crisis highlights how unaffordable, poor-quality housing in England's private rented sector is driving poverty, homelessness, and worsening health inequalities. Despite some progress through the Renters’ Rights Bill, rising rents and insufficient Local Housing Allowance leave most homes out of reach. Crisis calls for urgent investment in social housing, increased LHA rates, and proper implementation of renter protections to reduce homelessness, ease pressure on health services, and create a more equitable housing system.

Revitalising Town Centres: Building Income and Belonging to Turn the Tide

Labour councillor for Croydon, Rowenna Davis explores why some town centres thrive while others struggle. She argues that the key to success is not just cosmetic improvements but focusing on building local incomes and a sense of belonging. Highlighting examples like Manchester's inclusive growth initiatives and Sheffield's transformation into an experiential destination, Davis emphasises the need for councils to shift from bureaucracy to community engagement. Arguing with the right partners and strategies, declining town centres can be revitalised and made vibrant once again.

Green Transport Investment Could Revive UK Manufacturing, Says IPPR

A report from the Institute for Public Policy Research (IPPR) highlights the potential of green transport—such as electric trains and vehicles—to rejuvenate UK manufacturing. The study identifies existing strengths in transport manufacturing and urges the government to support regional clusters and infrastructure development. By capitalising on these advantages, the UK could meet domestic and international demand for sustainable transport solutions, driving economic growth and contributing to net-zero targets.

Backing British Business: Prime Minister Unveils Plan to Support Carmakers

The Zero Emission Vehicle (ZEV) Mandate will be changed to make it easier for industry to upgrade to make electric vehicles while delivering the manifesto commitment to stop sales of new petrol and diesel cars by 2030, which will help even more British consumers access the benefits of cheap to run electric vehicles. British car brands like Rolls-Royce, Vauxhall and Land Rover are being given certainty, stability, and support as the Prime Minister sets out plans to back industry in the face of global economic headwinds. Employing 152,000 people and adding £19 billion to our economy, the UK’s automotive industry is a huge asset to our nation – and the transition to zero emissions is the biggest opportunity of the 21st century to attract investment, harness British innovation, and deliver growth for generations to come.

Leisure Travel Tops Charts for Reasons People Choose Rail

New research from the Department for Transport shows that leisure is the most common reason for travelling by train. Post-pandemic trends continue as results show the most common days to commute by train are Tuesdays, Wednesdays, and Thursdays, and whether its visiting friends and family, going on holiday or the usual commute, our railway provides vital connections across the country, boosting growth and fuelling our economy.

Information At Stop QR Code Trial – September 2024

TfWM, in partnership with Journeo, developed WM Bus (real time) QR codes that were trialled at various bus stops across the network. This study (using a combination of face-to-face interviews and an online ‘pop up’ survey) aims to understand how people use at-stop information and their opinion of the WM Bus QR codes. Overall, 88% of stop users felt the provision of the WM Bus QR code was very useful or useful. The survey outputs form an important part of the overall monitoring and evaluation of the trial, as well as helping support any design changes to improve the customer experience. For more information, please contact the Human Intelligence Team.

Last Mile Home Delivery Report (Nov-Dec ’24)

The UK is the leading market in Europe for online shopping. While retailers and carriers welcome this growth, it puts tremendous pressure on supply chains, particularly last-mile delivery networks.

TfWM conducted an online survey to gain an understanding of people’s current use of home deliveries, sentiments towards last mile deliveries in terms of sustainability and potential solutions, and their experiences and opinion of several types of delivery vehicles. The survey revealed some interesting findings about human behaviour in relation to home deliveries – seen as an essential for some of the most vulnerable members of our society. Changing behaviour will be challenging – for whilst as consumers we know what we are doing is not sustainable - modifying our behaviours is seen as a low priority compared life’s other challenges. In this setting, government, business, and vehicle manufacturers will be centre stage in facilitating change seamlessly for the customer. For more information, please contact the Human Intelligence Team.

The State Of The Transport Sector Of The UK In 2025

An article by uTrack references ONS statistics on the value of the transport industry, which declined slightly in 2023 compared to 2022, albeit higher than during the pandemic. It argues that the industry’s biggest challenge is the supply of qualified workforce and this needs to be its number one priority – with a forecast shortfall of 409,000 workers by 2030. It argues that the transport sector is fundamental to the UK’s economy as demonstrated in the pandemic, and that a robust plan needs to be implemented now to address these skills shortages.

Everythingism: The Hidden Force Behind Britain's Policy Failures

According to the latest report from REFORM, a think tank, Britain's policies are increasingly driven by "Everythingism," where every project aims to achieve multiple national objectives simultaneously. This approach complicates and delays initiatives, from nuclear power stations and biodiversity mandates to housing and education reforms. The result is inefficiency and higher costs, as seen in projects like HS2's bat tunnel and the Teesside carbon capture project. This trend undermines the effectiveness of policies designed to address specific issues. REFORM recommends a much more streamlined approach to programme delivery.

Institute for Fiscal Studies Reveals Stark Regional Disparities in Public Spending Across England

The Institute for Fiscal Studies' analysis shows significant regional differences in public spending across England for 2023-24. London receives the highest per-person spending (£14,858), while the North East has the highest spending relative to regional GDP (47.7%). Meanwhile, the West Midlands falls £126 short per person compared to estimated needs, with areas like Dudley notably underfunded across key services. The report highlights how misaligned funding fails to meet local needs, prompting calls for urgent reform to ensure fairness and efficiency.

Generating Hope: Local Power in Partnership

A report by Localis explores how the UK’s Local Power Plan, part of the GB Energy initiative, can empower local authorities and communities to drive renewable energy projects. It stresses the need for long-term funding, planning reform, public engagement, and strategic partnerships. Key recommendations include formalising local energy planning, streamlining grid access, supporting skills development, and easing capital costs. With clear policy coordination, the plan could help decentralise energy, boost public trust, and align climate action with local economic growth.

Onward Report Warns Conservatives Against Retreating on Climate Commitments​

A report by think tank Onward cautions the Conservative Party that scaling back climate ambitions could alienate key voter groups. Polling indicates that 75% of Labour and Liberal Democrat switchers and two-thirds of Conservative voters prioritise government action on climate change. While cost concerns exist, most Conservative supporters would only accept minimal tax increases for climate policies. The report suggests that a pragmatic, pro-market approach to decarbonisation could help the party navigate voter expectations without compromising fiscal prudence.

IPPR Urges Ambitious Strategy for Great British Energy to Drive Green Transition​

A report by the Institute for Public Policy Research (IPPR) outlines a strategic roadmap for Great British Energy (GBE), the UK's proposed publicly owned clean energy company. The report emphasises that GBE should directly generate and supply electricity, aiming to deliver 5% of the UK's power by the early 2030s. To achieve this, IPPR advocates for full funding of the £8.3 billion investment pledged by 2030, enabling GBE to own and operate its assets, reinvest profits, and eventually borrow independently. The report warns that without bold and focused action, GBE may fail to meet its objectives and disappoint public expectations.

The Transition to Net Zero: Consequences for Productivity and the Economy

A blog by the National Institute of Economic and Social Research highlights that climate change threatens UK economic stability through lower productivity and extreme weather. Without action, global GDP could drop by up to 15% by 2050. The UK’s net zero strategy includes regulation, carbon pricing, and investment in green tech. Though such policies may reduce output short term, they can boost long-term productivity through innovation and clean energy adoption, supporting both environmental and economic goals.

WMCA Economic Dashboard

The latest dashboard prepared by the EIU shows that the claimant count continues to rise in the WMCA area for both 16-64 and 18-24 age groups; and the proportion of the working-age population across the area and the UK with no qualifications rose between 2023-24. For the WMCA area, 10.3% (187,700) of the working age population had no qualifications in 2024, an increase of 14.5% (+23,700) since 2023. While for the UK, 6.8% had no qualifications, an annual increase of 2.7%. Find these figures and more in the appendix.

People on Universal Credit Continues Slow Rise Across Region

Data on the WISE Profiler shows that the proportion of the population living in the WMCA area claiming universal credit is continuing its slow rise.

Homelessness Spending Rises Significantly Since Pandemic

According to data available on the WISE Profiler, the expenditure per head of population on homelessness across the region has risen significantly since the pandemic and continues to rise.