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London and the regional
economy
Brian Robson
Centre for Urban Policy Studies
What London thinks today, London
thinks tomorrow
• London now the only English region with a strategic plan
• “The only prudent course is to plan for continued growth. Any other
course would either require fundamental changes in policy at
national level or could lead to London being unprepared for growth.
(The London Plan, 2011)
• Manchester’s transformation achieved through:
Strong and consistent civic leadership
Dynamic private sector
Support of central government
The geography of urban primacy
• Centrifugal flows – off to the playground:
students, retirees, holidays and second homes
• Centripetal flows – the serious business:
suck in talent and high flyers
collect headquarters (the anti-HS2 argument)
Flows of university students
North East
North West
Yorks/Humber
East Midlands
West Midlands
South West
East
South East
London
Flows to university
Flows to first job
Undergrads Postgrads
Graduates Postgrads
Ratio
Univ:Home
1.38
1.06
1.44
1.34
0.90
1.00
0.58
0.81
0.92
Ratio:First
job:Univ
0.74
0.95
0.77
0.70
1.03
0.93
1.51
1.14
1.42
Ratio
Univ:Home
1.19
0.94
1.31
1.34
0.90
1.00
0.88
0.84
1.18
Ratio:First
job:Univ
0.86
0.96
0.87
0.77
0.99
1.04
1.25
1.29
1.00
First job destinations of Yorks students
North
%
Elsewhere Elsewhere
Sheffield
1731
1382
44.4
Leeds
2749
1944
41.4
York
914
609
40.0
Sheffield Hallam
2579
1381
34.9
Hull
1716
701
29.0
Bradford
857
277
24.4
Leeds Met
2052
511
19.9
Trinity all Saints
395
98
19.9
York St John
754
167
18.1
Huddersfield
2360
350
12.9
Company headquarters
Financial services
Legal services
UK
headquarters
No of
companies
UK
headquarters
No of
companies
London
Manchester
Leeds
Dorking
Edinburgh
Glasgow
Liverpool
Reading
Sheffield
York
73
5
4
2
2
2
2
2
2
2
London
Liverpool
Manchester
Newcastle
Hull
Sheffield
Leeds
Preston
York
12
9
6
5
4
3
2
2
2
Top 25 Global law firms
Rank Firm
HQ
country
UK branch locations
1
2
UK
UK
London
London
US
London
4
5
6
7
8
9
10
11
12
13
Clifford Chance
Linklaters
Skadden ARPS Slate
Meagher & Flom
Freshfields Bruckhaus
Deringer
Latham & Watkins
Baker & Mckenzie
Allen & Overy
Jones Day
Sidley Austin
White & Case
Weil Gotshal & Manges
Mayer Brown Rowe & Maw
Kirkland & Ellis
UK
US
US
UK
US
US
US
US
US
US
14
DLA Piper (US)
US
15
16
17
18
19
20
21
Sullivan & Cromwell
Greenberg Traurig
Shearman & Sterling
WilmerHale
O'Melveny & Myers
Morgan Lewis & Bockius
Mcdermott Will & Emery
Cleary Gottlieb Steen &
Hamilton
Gibson Dunn & Crutcher
Simpson Thacher & Bartlett
Lovells
US
US
US
US
US
US
US
London
London
London
London
London
London
London
London
London
London
London, Birmingham, Edinburgh,
Glasgow, Leeds, Liverpool,
Manchester, Sheffield, Bradford
London
London
London
London, Oxford
London
London
London
US
US
US
UK
London
London
London
London
3
22
23
24
25
Northern financial services: structural links
Aberdeen
60+
Links
40-59 Links
20-39 Links
Edinburgh
Glasgow
Newcastle
Belfast
York
Preston
Leeds
Manchester
Liverpool
Sheffield
Nottingham
Leicester
Norwich
Birmingham
Milton Keynes
Cambridge
Cardiff
Bristol
Reading
London
Exeter
Southampton
Brighton
Northern legal services: structural links
Glasgow
10+ Links
5-9 Links
Edinburgh
Newcastle
Stockton
York
Preston
Hull
Leeds
Chorley
Manchester
Liverpool
Sheffield
Birmingham
Cardiff
Bristol
London
DATAR classification
1
2
3
4
5
6
7
8
9
10
11
12
London & Paris
Brussels
Diverse metros
Metro ports
Science led
Business led
University led
Services led
Industry led
Tourism led
Commerce led
Agricultural/mining
Clark/Moonen – Revived post-industrial cities
• Examples
Manchester, Barcelona, Lyon, Warsaw
• Attributes:
Gateways to regional market
Mix of services, retail and science
Higher education
• Priorities:
Build international HE Economy
Attract & retain entrepreneurs
Leverage sport & culture
Improve rail/air links
Policy prescriptions
• Devolution:
- LEPs and City Deals a valuable start
- ‘Council of the North’
• Graduate retention
• More BBC-type relocations
• Stand HS2 on its head
HS2 reversed