Two-thirds of children in poverty are from households where at least one parent is in work, compared to only two-fifths in 1996.
London, which accounted for 22 per cent of output in 2008, contributed just 1 per cent of the total decline of GVA over the four years to 2012. Yorkshire & Humber, by contrast, accounted for just 7 per cent of output in 2008, but contributed 16 per cent to the overall decline.
It’s an important debate because if decoupling has occurred that implies something has gone seriously wrong with our economy and policymakers should take some sort of corrective action. On the other hand, if there has been no decoupling one would expect workers’ pay to bounce back with the return to growth and no such radical action is necessary.
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