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| Every UK region better off than last year, according to pre-EU referendum report | Every UK region better off than last year, according to pre-EU referendum report |
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| Every region in Britain is more prosperous than last year, with some areas emerging as challengers to London and the South East for affluence, a new report shows. | Every region in Britain is more prosperous than last year, with some areas emerging as challengers to London and the South East for affluence, a new report shows. |
| Wealth, spending or earnings rose across the country in the 12 months to April 2016, while jobless rates dropped, according Barclays' Prosperity Map. | Wealth, spending or earnings rose across the country in the 12 months to April 2016, while jobless rates dropped, according Barclays' Prosperity Map. |
| The lender's report calculates regional scores based on an array of factors such as gross domestic product (GDP), house prices, charitable giving, working hours and average house prices. | The lender's report calculates regional scores based on an array of factors such as gross domestic product (GDP), house prices, charitable giving, working hours and average house prices. |
| The upbeat news comes despite economic uncertainty sparked by China's economic slowdown, stock market turmoil and the Brexit vote. | The upbeat news comes despite economic uncertainty sparked by China's economic slowdown, stock market turmoil and the Brexit vote. |
| "It is very encouraging to see the upward trajectory for prosperity in the UK continuing despite recent global volatility," Akshaya Bhargava, chief executive of wealth, entrepreneurs and business banking at Barclays said. | "It is very encouraging to see the upward trajectory for prosperity in the UK continuing despite recent global volatility," Akshaya Bhargava, chief executive of wealth, entrepreneurs and business banking at Barclays said. |
| While London still ranks as the UK's most prosperous city, others are "emerging as prosperity hotspots," the report added. | While London still ranks as the UK's most prosperous city, others are "emerging as prosperity hotspots," the report added. |
| Scotland saw the biggest increase to household wealth, which rose by 13% versus London's 12% rise. | Scotland saw the biggest increase to household wealth, which rose by 13% versus London's 12% rise. |
| Barclays said the rise was likely linked to Scotland's median private pensions wealth, which jumped 60% compared to 19% in England and 24% in Wales. | Barclays said the rise was likely linked to Scotland's median private pensions wealth, which jumped 60% compared to 19% in England and 24% in Wales. |
| Scotland advanced in the rankings to become the seventh most prosperous region on the index, behind the East Midlands, Northern Ireland, South West and Eastern England, South East and London. | Scotland advanced in the rankings to become the seventh most prosperous region on the index, behind the East Midlands, Northern Ireland, South West and Eastern England, South East and London. |
| The North East emerged as the least prosperous region in the UK, although Barclays noted an "impressive" 6% increase in average annual earnings, reaching £24,748. | The North East emerged as the least prosperous region in the UK, although Barclays noted an "impressive" 6% increase in average annual earnings, reaching £24,748. |
| "This is in stark comparison to London, where average earnings dropped by 1% in the same time period," the report explained. | "This is in stark comparison to London, where average earnings dropped by 1% in the same time period," the report explained. |
| Meanwhile, Bristol and Cambridge have become "increasingly attractive areas to live and work," with house prices rising 13% and 14% respectively in the 12 months to April. | Meanwhile, Bristol and Cambridge have become "increasingly attractive areas to live and work," with house prices rising 13% and 14% respectively in the 12 months to April. |
| That is compared to the capital's housing market, which saw price growth of 11% during the same period. | That is compared to the capital's housing market, which saw price growth of 11% during the same period. |
| Manchester, Cardiff and Sheffield saw some of the strongest turnover amongst small and medium sized businesses, up 15%, 12% and 11%, respectively. | Manchester, Cardiff and Sheffield saw some of the strongest turnover amongst small and medium sized businesses, up 15%, 12% and 11%, respectively. |
| "The research shows that not only is the UK still 'open for business', it sends a clear message that all parts of the UK are sharing in, and contributing to its role as a driver of global prosperity," Mr Bhargava said. | "The research shows that not only is the UK still 'open for business', it sends a clear message that all parts of the UK are sharing in, and contributing to its role as a driver of global prosperity," Mr Bhargava said. |
| However, the UK now has 3.8% fewer millionaires at 690,000. One in every 67 people in the UK is now worth at least seven figures, but they are not all based in London. | However, the UK now has 3.8% fewer millionaires at 690,000. One in every 67 people in the UK is now worth at least seven figures, but they are not all based in London. |
| "Even without London and the South East, the rest of the UK has shown an increase of 85,000 additional millionaires, up by 31% since 2010," the report showed. | "Even without London and the South East, the rest of the UK has shown an increase of 85,000 additional millionaires, up by 31% since 2010," the report showed. |
| Eastern England hosts the largest proportion of the country's millionaires after the South East and London, at 13.2% or 148,000. | Eastern England hosts the largest proportion of the country's millionaires after the South East and London, at 13.2% or 148,000. |
| Around 8.1% of the UK's wealthiest are in the South West, followed by 6.4% in the North West and 6.2% in Scotland. | Around 8.1% of the UK's wealthiest are in the South West, followed by 6.4% in the North West and 6.2% in Scotland. |
| Wales and the North East are home to the fewest millionaires, each hosting 12,000 or 1.7% of the country's total. | Wales and the North East are home to the fewest millionaires, each hosting 12,000 or 1.7% of the country's total. |
| Press Association | Press Association |