Milton Keynes economy 'booming', says report

City MPs Mark Lancaster and Iain Stewart
City MPs Mark Lancaster and Iain Stewart

City MPs Mark Lancaster and Iain Stewart have welcomed a report by Centre for Cities which shows Milton Keynes has strengthened its place as one of the strongest economies in the UK.

MK is in the top 10 cities for almost all positive economic indicators

The City is the fifth most popular place in the UK to start-up a business, the third for the number of established businesses and is the ninth best city to find a job with the percentage of job seekers claimants at a record low of 1.5 per cent.

One of the most impressive figures was the high level of productivity workers in Milton Keynes are delivering. MK is just behind London and Slough, with the level of productivity 26% above the UK average.

Milton Keynes North MP Mark Lancaster said: “I am delighted to see Milton Keynes’ economy continuing to do well. I think it highlights how robust our economy has become. I am particular pleased with the productivity level, the hard work and innovation of our workforce is why we stand out as a great place to business.

“We face challenges, not least the need for certainty with the UK’s withdrawal from the EU, but also very local issues such as the need to improve broadband connections, especially in our rural communities.”

Milton Keynes South MP Iain Stewart added: “Strengthening our economy has been core to our plan over the last eight years. In almost all sectors Milton Keynes has grown rapidly delivering well paid and highly skilled jobs.

“We have come so far and I am determined to do all I can to make sure that we do even better in the years to come.”

The report did highlight areas Milton Keynes is falling behind, for example it was listed in the worst 10 cities with the lowest ultrafast broadband penetration rate.