Levelling up is a long way off, says L&G

The UK is a long way from levelling up, Legal & General has said. The latest Legal & General Rebuilding Britain Index shows that, despite some major investments, there is a long road to rebuild the UK economy and level up the regions. In particular, it states, more investment is needed to deliver affordable housing in the south and greater employment opportunities in the north. CEO Nigel Wilson said: “Building Back Better is not going to happen overnight. And with ongoing restrictions on movement and social distancing it is perhaps no surprise to see the index has remained flat in Q2 2021.” Despite an improvement in GDP and the announcement of several largescale developments, he added, “we are seeing no change in community sentiment.” Wilson said that more needed to be done to shift the dial. “It is clear that the longer we wait in bringing forward further major schemes, the greater the risk of existing inequalities between and within our communities deepening further.” For the second consecutive quarter, housing, jobs and economic prosperity continued to be the worst performing measures. Access to affordable housing was seen as the top priority for local communities, especially in the south of England. Overall the housing score has fallen to 59 out of 100, meaning that access to affordable housing is more difficult than before. London was rated 50 out of 100 for affordable housing, the South East and South West of England both at 52. Meanwhile, Wales registered just 52 out of 100 for jobs and economic prosperity, with the North East of England at 54. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews