PwC and Demos “good growth index findings"

One of the toughest questions for today's governments is how to achieve balanced growth that is financially, socially and environmentally sound. Against this backdrop, PwC and Demos have developed a new index to measure ‘good growth’.

• Internationally, the UK is towards the bottom of our ‘good growth’ index, compared with similar OECD countries. British people prefer the economic make-up of any other OECD country, bar Spain, to our own. The key factors behind the UK’s score are hours worked, the costs of transport, income inequality and low average savings.

• Norway, Germany and the Netherlands are the top countries to live and work in among major OECD countries, according to the index. The UK scores lowest of any of the countries we looked at, bar Spain. The key factors behind the UK’s score are hours worked, the costs of transport, income inequality and low average savings.
• Within the UK, the South East, South West and Eastern regions have the most attractive economies in which to live and work, with London, the North East and Wales scoring lowest.
• While on traditional measures London is the most prosperous region its wealth comes at a cost. Despite the high incomes enjoyed in the capital, London places last on our ‘good growth’ index. The reasons for this are high unemployment, sectoral balance, transport and working hours, unaffordable housing and income inequality.