Levelling up must be supported by jobs in the North and homes in the South, finds Legal & General’s new Rebuilding Britain Index

Welcome to the first Rebuilding Britain Index report.

The Rebuilding Britain Index (RBI) is a new community-led index that tracks social and economic progress across the whole of the UK.

The UK stands at a pivotal juncture in its modern history. The global pandemic has resulted in unprecedented impacts, both in terms of the loss of life and lost economic output. The UK economy shrank by 20 percent in the course of 2020, representing the biggest annual fall in over 300 years.

It is vital that as we now look to rebuild our lives, and our communities, that we create an economy which enables us to “build back better”. This means building an economy which better meets the needs of local communities, narrowing the gaps in household and regional disparities, and addressing the growing sustainability challenges facing all communities.

Legal & General’s role, as the leading institutional investor in UK infrastructure, is to support the UK’s efforts to build back better. This means channelling investments into the right infrastructure. This can only be done by giving local communities a key role in determining which infrastructure they need to better support inclusive and sustainable economic growth and restore social mobility.

Working in collaboration with our research partners Cicero/amo, our goal is to firmly establish the Rebuilding Britain Index in providing local communities with a strong voice in identifying their investment priorities. This will help to channel investment into those areas which will make the greatest difference in the quickest timeframe. Our quarterly updates will provide a regular snapshot for how successfully the UK is helping to improve people’s lives and to assess whether the UK is building back better and levelling up across the UK countries and regions.

Click here to access the report in full

Cicero/amo is working in partnership with L&G to develop an index that combines key indicators of social and economic progress. In developing the Index, we have identified seven key areas covering all aspects of the UK’s economic and social infrastructure. For each of these seven areas we built out a series of quantitative and attitudinal statistical measures. In total, the Rebuilding Britain Index (RBI) combines more than 50 different measures to provide a comprehensive assessment of how the UK’s economic and social infrastructure is helping us to build back better. It also benchmarks the UK’s success in ‘levelling up’ across the left behind communities and households.

Please do get in touch for further information or to discuss the report.

Andy Roberts

Head of Research