- UK has two regional problems: old one of regional inequality and new one of national stagnation.
- Tackling regional inequality linked to divergent standards of living, life expectancy and educational attainment.
- Causes of stagnation: weak transport infrastructure, failure to support innovation outside the South East, costly housing.
- Solution: invest in university education, transport infrastructure, government spending on R&D outside the South East.
- Levelling down is worse than the disease of levelling up.
The UK economy has two regional problems, not one
Now the country is suffering something worse than geographic inequality: national stagnation
Martin Wolf
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