Milton Keynes set to be the fastest UK city for economic growth - according to the experts
Milton Keynes is projected to be one of the fastest UK cities for economic growth in 2021.
According to the Centre of Economic and Business Research latest findings Milton Keynes should bounce back from the challenges of the COVID-19 pandemic quicker than other British cities, at a rate of close to 10% by the end of 2021.
Accountancy firm Mercer & Hole believe there are plenty of promising factors that explain Milton Keynes' unique ability to bounce back from the many financial challenges provided by the pandemic.
Jacqui Gudgion, Corporate and Business Tax Partner at Mercer & Hole and long-term resident of Milton Keynes said: “Milton Keynes is uniquely placed between Oxford and Cambridge and benefits from both. We have seen a lot of investment, and with more in the pipeline.
“Plans are well underway for a new university, MK:U, that promises to shake-up the traditional university model whilst focusing on the skills that the region needs. An international design competition took place with the campus planned to welcome its first students in four years’ time, adding a new cultural dimension to the town.
“Milton Keynes is driving the technology revolution that will be felt across the rest of the UK, with driverless cars, drone delivery and some of the smartest software businesses in the country. There are also rumours of the town bidding for freeport status.
“We have also seen significant ongoing investment in infrastructure with more affordable housing and commercial spaces. It will remain a great place to do business and raise a family.”
The greatest challenge for the city in the mid to long term according to Mercer & Hole's chartered tax advisor will be making the city attractive to the country's brightest students and convincing those who achieve academically to return to Milton Keynes after they graduate. She added: “Like many mid-sized towns, young people leave to go to university and work, and may not return to what is a growing and vibrant place to be, full of great opportunities for the future.
"This is likely to make recruitment a challenge for businesses in 2021. We need to do more to keep the best here in Milton Keynes."