London’s output outstrips regions as levelling up falls flat

London’s economy has outstripped all other regions, according to data that emphasises the government’s challenge to “level-up” the country. Output in the UK’s capital rose by 0.9% between the second and third quarters of last year, far outstripping the 0.1% national contraction, according to figures from the Office for National Statistics. Meanwhile, output in Wales and Scotland fell by 2% and 0.3% respectively during the same period, while growth was flat in Northern Ireland and England. The East Midlands was the worst-performing English region, suffering a 1.6% contraction. Susannah Streeter, senior investment analyst at asset manager Hargreaves Lansdown, said levelling-up policies had “clearly failed to make much of an impact on moving the economic dial much for regions in need, with London still appearing to be the magnet for investment”. The FT (£)