READING is set to recover quickly from the coronavirus pandemic while London will be nursing an ‘economic hangover’.
This is according to the Centre for Economics and Business Research (CEBR), which expects strong economic growth for London’s commuter belt next year.
The Centre’s latest report, produced with law firm Irwin Mitchell, says that Reading’s employment is expected to grow by 6% year-on-year when the government’s furlough scheme comes to an end.
And the CEBR expects the town will see the smallest economic impact of any city in the UK.
According to the Centre, the secret to Reading’s success is the Thames Valley’s communications sector which has enabled the region to adapt to home working quickly.
“While the south recovers better overall from the coronavirus crisis, it is clear from this report that there will be something of a hangover for larger cities,” said Vicky Brackett, CEO of Irwin Mitchell’s Business Legal Services team.
“With strong pharma, IT and tech sectors, the London commuter belt has been able to weather the storm better than most and this is shown in their resilience and the robust recovery they are expected to enjoy over the coming year.”
To read the report, visit: irwinmitchell.turtl.co
