Accountants Find North South Divide Still Evident

A leading accountancy firm has found that not only is the north south divide evident, it has widened due to the recession, unemployment and declining house prices .

Price Waterhouse Cooper confirms that the recession has impacted London less than other regions.

The north-east and Wales have suffered the most in terms of pressure on household finances since the start of the recession, followed by the West Midlands.

London witnessed the strongest growth in earnings, the most steady house prices and some of the lowest increases in personal insolvencies .

Economically the south-east and the east Midlands are expected to grow the most during 2011, with London forecast to pick up as the business and financial services sectors slowly regain momentum.

The accountant’s survey confirmed that the north-east is likely to carry on suffering some of the worst effects of the governmental spending cuts.