Reading is a top performer for factors including jobs, health, and income equality, according to a body which measures the performance of 42 UK cities.
The annual PwC Good Growth for Cities index- which has ranked Reading highly for the fourth year in a row- considers 10 factors which the public think are most important for economic well being. These include jobs, health, income and skills, as well as work-life balance, house-affordability, travel-to-work times, income equality, environment and business start-ups.
And Reading- which ranks closely to Oxford- has been praised for its scores in the fields of jobs, health, income, new businesses, owner occupation, skills, and environment.
The annual Good Growth for Cities index sets out to show there is more to life, work and general wellbeing than simply measuring GDP.
PwC Reading Office Senior Partner, John Ellis said: “The strong performance of both Oxford and Reading follows increasing levels of available jobs, growing incomes, and a diversity of skills in the city.
“Growth is visible throughout the Thames Valley, particularly since the Oxford- Milton Keynes -Cambridge Arc has become a major UK focus.
“At PwC we recognise the region’s potential, and have been investing in the Thames Valley. This year we have launched a new ‘Frontier’ hub, where clients and staff can experience innovative technology to solve problems.”
As well as acknowledging success, the index has also revealed some challenges for South East cities, particularly the affordability of housing.
All South East cities are below the index average for house price to earnings, suggesting the region is becoming increasingly unaffordable.
Although Reading has maintained its position in this year’s index, it has seen a decline in overall index score, driven predominantly by poorer house price to earnings ratios.
Executive Director for Reading UK, Nigel Horton-Baker said: “Reading has consistently ranked in the top two cities for good growth since PwC launched the Index in 2005 and has made further progress this year in terms of jobs, income, new businesses, the skill set of the over 25s, owner occupation and environment.
“One of Reading’s key offers to business is the talent pool available locally. This continues to be an important part of Reading’s success, with over 50% educated to degree level or above.
“Reading is less successful with regard to the skill levels of 16-24 olds, which remains a relatively small but serious issue for those affected.
“Reading UK has been working hard to address this through the delivery of Employment and Skills Plans, connecting employers with local schools and supporting STEM projects within schools.”
Mr Horton-Baker added: “We are now working with partners to ensure that every 16 and 17-year-old in Reading has access to work experience and solid careers advice.”
For more information about the Good Growth for Cities index log on to www.pwc.co.uk/goodgrowth.
