“Peripheral” economies and the crisis

The Economy of Well-Being can be the pathway to recovery for the UK, says the associate professor of digital health and education, co-director of the centre for health technology, and head of digital education at the University of Plymouth

By Dr Arunangsu Chatterjee

WEYMOUTH, ENGLAND - FEBRUARY 28: A man walks his dogs along the beach close to Weymouth town centre on February 28, 2012 in Weymouth, England. Weymouth, along with nearby Portland, are preparing to host the 2012 Olympic sailing events with millions being spent to help the area cope with around 60, 000 extra visitors expected during the games. Although millions of pounds have been invested in infrastructure, including an 18Million GBP transport package, according to a number of retail and business experts the seaside town must still improve its rundown retail centre to impress the visitors, comments which have been backed by local traders. (Photo by Matt Cardy/Getty Images)

The UK is focused on reopening the economy – a colossal challenge for even the most fiscally sophisticated, and particularly acute where investment and societal inequalities are prevalent. Take, for example, the South West where I research and educate. Like other peripheral economies, it deals with long-term, deep-rooted low productivity, soon to be exacerbated by the funding deficit for regional development and economic growth as a consequence of Brexit.

Productivity gaps here continue to widen against the UK average and you only have to scratch the surface to reveal an even poorer picture in coastal and rural locations. In fact, productivity is inextricably linked to the rural and outlying nature of the peninsula, which makes accessing markets a challenge for business, and accessing services a challenge for residents, particularly the sizeable elderly population.