MK backed for strong economic recovery

Milton Keynes ranks among the strongest and most resilient local economies in the country, finds a report published today.

The Cities Outlook 2022, suggests that MK is well placed to make a strong initial recovery from the pandemic, with the potential to become one of the UK’s leading economies if future levelling up policies from central government are implemented.

The latest data shows that MK sits among the top ten cities when it comes to new business start-ups, productivity and housebuilding rates.

Cities Outlook 2022 analyses the short-term impact of the pandemic on Britain's town and city centres and the long-term consequences and implications this has for the Government’s levelling up agenda.

Since the pandemic began, MK Council has distributed vital financial support through almost 20 different grant schemes for local firms, giving out over 11,500 grants to businesses totalling £64.7m. The Council also has a £3.1m economic recovery package to support businesses and provide training to help local people back into work.

Leader of MK Council, Cllr Pete Marland said: “MK is the place for good, well-paid and secure jobs. While the initial signs of economic recovery are encouraging, we cannot be complacent. The report is clear that there is a real danger of levelling-down if policies are not put in place to support businesses in places like here.

“We have a good track-record in MK of dusting ourselves off and coming back stronger in times of economic uncertainty. It’s thanks to our citizens and business community that are helping us to deliver a prosperous, green and fair recovery from the pandemic.”