Burnham’s devolution drive could ‘push 90,000 jobs out of London’
Roughly 90,000 of London’s white-collar jobs could be pushed into other parts of the country as Andy Burnham accelerates his devolution drive, a top recruitment firm has predicted. Legal, banking and accounting firms could be among those to shift thousands of jobs away from the capital in a bid to capitalise on the Prime Minister’s [...]
A new report from recruitment firm Robert Walters predicts that around 90,000 white-collar jobs in London could be moved to other parts of the country in the coming years, potentially impacting the capital's economy. The migration could generate up to £15bn annually for regional economies, thanks to increased demand for local services and businesses.
Manchester, Birmingham, and Leeds are expected to be the main beneficiaries, with an estimated 15,000 to 45,000 jobs shifting to the North West by 2031 alone. The predictions come as Prime Minister Andy Burnham pushes for devolution and economic rebalancing, offering regional powers and opening a No 10 North office to promote growth.
The North West, Midlands, and Yorkshire are projected to receive the largest economic gains from the job migration, injecting billions into their respective economies. While London still dominates the UK economy, accounting for 22.3% of GDP, the report suggests a gradual shift of jobs away from the capital as businesses seek lower costs and more space.
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