Business News Round Up (26/11/19)
UK could receive £83 billion GDP boost by halving regional productivity gap
The latest economic outlook from PwC suggests that UK GDP could be boosted by £83 billion (4%) if local areas with below average productivity levels could make up even half of the gap. The report examines UK regional productivity, revealing wide variations in domestic productivity per job, with Wales, the East Midland and Yorkshire and Humber ranking as the least productive areas of the UK.
Scottish GDP predicted to grow faster than UK
The Scottish economy will grow slightly faster than the rest of the UK this year, with both contracting in 2020, according to a new report. PwC’s latest UK Economic Outlook report revealed that Scotland should achieve a 1.3% rise in GDP for 2019, down 0.3% from a previous forecast but ahead of the 1.2% predicted for the rest of the UK.
London & South East accounts for 55% of the UK tech economy
A new report from business advisory firm BDO LLP has revealed that London and the South East of England account for 55% of the tech economy in the UK. GVA for the technology sector in London and the South East grew to £47 billion, up from £37 billion five years ago.
https://www.uktech.news/featured/london-south-east-accounts-for-55-of-the-uk-tech-economy-20191125
Plans in for No.3 Circle Square
Bruntwood SciTech has submitted plans to develop a 224,000 square foot commercial office space in Manchester. The developer is proposing a 14 storey building to manage soaring levels of demand for workspace from science and tech businesses looking to invest in Manchester.
https://www.insidermedia.com/news/north-west/plans-in-for-no.3-circle-square