Fact Check: Does London really subsidise the UK?

Only three regions – all in the south-east and east of England – recorded a net surplus last year

London skyline
Businesses in London and across the UK pay the lowest headline corporation tax rate in the G7
(Image credit: Dan Kitwood/Getty Images)

"London and the south of England have been subsidising the rest of the UK" are the opening words of an article in the Financial Times that will no doubt prove contentious in many parts of the country.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us