‘Manchesterism’ and the realities of growth
Manchester’s growth has outstripped all its UK peers in recent years. However, weak income growth and high housing costs pose a significant challenge.
As Andy Burnham steps into the national political spotlight, Greater Manchester’s economy has become the subject of intense scrutiny, as has the concept of ‘Manchesterism’. While sometimes used to describe Burnham’s national political programme, it is also a shorthand for the broader model of devolved, city-led growth that successive generations of policymakers in the city have adopted and which, to its supporters, is responsible for Manchester’s recent economic success. This report is concerned with the latter definition, assessing Manchester’s growth model and whether its growth story is as strong as headline figures suggest.
What you will learn:
- Manchester has been the star performer of the UK economy since 2008. Several factors have driven this, but the central feature has been a significant expansion of the urban core, boosting agglomerative growth and activity in knowledge-intensive business services sectors.
- Growth has been concentrated in the city centre. While it has been weaker in the outer regions, growth there has still exceeded the national average. Manchester’s main issue is that the centre remains too weak and too small to ensure spillover effects carry the weight that London’s economy does across the wider South East.
- The essence of ‘Manchesterism’ is the pairing of consistent policymaking with concentrated urban-core development. While not unique and not without challenges, it provides a template for other major cities to follow. Success, however, is far from guaranteed. The cities best placed to follow this path are those with enough mass to drive agglomerative returns and the political stability to unlock private sector buy-in.
Download the report for more detailed insights.
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