Nine London boroughs are among the top 10 most dynamic local economies in the country, leading the rankings based on both their recent progress and potential.
A report yesterday by accountancy network Grant Thornton ranked Tower Hamlets first on its high growth index, an analysis of the districts which have the strongest demographic and economic potential for rapid growth. Eight of the other top ten are also in London. Newham, Hackney and Lambeth also come high up in the list.
The firm released a table listing the most dynamic economies in the country, with London boroughs also taking nine of the top ten spots. Westminster takes the top rank, while Cambridge is the only area outside of the capital to get a look-in.
“While London and the south east are experiencing economic growth and indeed, play a pivotal role in driving growth nationally, more needs to be done to bridge the disparity between the capital and other parts of the country,” said Grant Thornton partner Phillip Woolley.
The index takes into account factors like economic growth, demographic growth and commercial activity.