Inventing our future Collective action for a sustainable economy

Where do we want to be?
Headline regional ambitions
For further information
on GVA data for the East
of England, see the RES-RSS
joint modelling report.
35
Comparison with other European regions
Region GVA per capita (PPP, East of England = 100) v
2006 2000–2006
percentage growth
per annum vi
East of England 100 1.90
Bavaria 103 1.21
Stuttgart 105 1.36
Madrid 65 1.33
Catalonia 58 1.60
Southern and Eastern Ireland 145 5.61
East Austria 96 0.95
Mainland Finland 107 2.32
Stockholm 174 2.26
Zurich 212 0.00
Though growth in GVA per capita in the East of England has been
reasonable by European standards, it has been slower than for the UK as
a whole over each of the past five years.
The RES ambition for GVA is a statement of consistency between the
regional economic and spatial strategies. It is to achieve growth rates
over the 2008–31 period that are more ambitious than the government’s
current Regional Economic Performance Public Service Agreement (REP
PSA) and are consistent with the level of physical development laid out
in the East of England Plan. vii On the assumption that the housing supply
targets in the Plan are achieved and rolled forward to 2031, average
growth of 2.1 per cent per annum on a per worker basis and 2.3 per cent
per annum on a per capita basis would achieve this ambition. By 2031
real GVA per head would be over 70 per cent higher than today. The
performance of the economy relative to other UK and world regions
would also be much improved.
Figure
GVA per
7
capita indices under the RES-RSS and business-as-usual scenarios
GVA
GVA
per
indicies
capita
(2007
(2007=100)
= 100
indices under the RES-RSS and
business-as-usual scenarios
180
170
160
150
140
130
120
110
RES-RSS
Business-as-usual
100
2007 2009 2011 2013 2015 2017 2019 2021 2023 2025 2027 2029 2031
Source: East of England Forecasting Model (RES-RSS joint modelling project)
v. Purchasing Power Parity (PPP) estimates adjust for differences in the cost-of-living, Cambridge
Econometrics (2007).
vi. Not evaluated at PPP.
vii. The REP PSA is based on raising the rate of per capita growth over 2003–2012 above the
average for the period 1990–2002. The East of England Plan includes a target for a net increase
of 508,000 new homes over 2001–2021.