Capital puts power into economy

LONDONERS contribute even more to Britain's economy than previously thought, it has emerged. Official figures show Londoners provided an average £18,110 towards Britain's gross domestic product in 1999 - more than any other region.

Overall, London contributed £127.1bn, up from the £122.8bn originally recorded. This represents a 16.3% share of total GDP and a 5.7% increase on the previous year.

The next highest figure per head is £15,700 for the South-East. At the bottom of the table Northern Ireland was ousted for the first time by the North-East, where the value per head is £10,200.

While economic growth rose in all regions in the Nineties, the Office for National Statistics said the rate was faster in London and the South-East.

Recently however, growth in the capital has fallen behind the rest of the country. London has been hit disproportionately by the downturn in global financial markets and other sectors such as tourism, media and advertising.

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