Up to 90,000 banking, legal and accountancy jobs based in London are forecast to move to other parts of the country over the next five years, bringing an estimated £9 billion boost to regional economies including Manchester, Birmingham and Leeds, according to analysis by Robert Walters, the listed recruitment company.

The recruiter estimates that figure could rise to £15 billion once the spending of relocated workers in their new home towns, and the extra work generated for local supply chains, is taken into account.

Robert Walters said more companies were looking to move some of their teams out of London because of the cost of running a business in the capital, where a shortage of prime office space has pushed rents to record highs.

The 90,000 roles represent 2.5 per cent of London’s overall workforce. Robert Walters predicts that up to 12,000 jobs will have moved out of the capital by the end of 2027, rising to 45,000 by 2029. Senior leadership teams are expected to remain in London, with companies instead bolstering junior ranks with local talent.

“Our forecast indicates a rebalancing of the scales towards stronger regional jobs growth over a widespread shift of business activity away from London,” said Jonny Bohane, of Robert Walters’ market intelligence team.

The analysis used past job relocations by major UK employers to establish a baseline, then combined Robert Walters’ own placement volumes with LinkedIn movement data to project regional hiring demand. The model also factored in office capacity, hybrid working levels, the depth of local talent pools, regional development initiatives and government decentralisation programmes.

The northwest of England, including Manchester and Liverpool, is forecast to be the biggest beneficiary, with 22,500 jobs expected to move there by 2031. Bohane’s team estimates this could inject up to £2.25 billion into the region’s economy, “reinforcing its status as the UK’s second hub for growth and innovation”.

About a fifth of the relocated positions, up to 18,000, could end up in the Midlands, principally Birmingham, bringing a £1.8 billion economic boost, the report said. Yorkshire stands to attract about 13,500 roles, adding £1.35 billion to the local economy. Most of the remaining 36,000 or so jobs are expected to move to other major regional cities including Bristol, Edinburgh, Glasgow, Cambridge, Newcastle, Liverpool, Reading and Cardiff.

Daniel Harris, UK managing director at Robert Walters, said he expects the trend to accelerate as “cost considerations remain high, and hybrid working allows organisations to build more geographically diverse teams”.

“Manchester, Leeds and Birmingham are the engine rooms of activity,” Harris said. “Over the last decade, these regional centres have become key career destinations for UK white-collar workers. They offer a significant presence of high-profile, multinational employers, vibrant cultural scenes and leisure opportunities, as well as a lower cost of living compared to the capital.”

Several large employers have already made similar moves. Birmingham is home to Deloitte’s second-largest UK office, Siemens moved its UK headquarters from Surrey to Manchester in 2019, and the Bank of England has committed to basing one in ten of its staff in Leeds by 2027, although only 156 employees had registered interest in transferring to its Leeds hub by late last year.

The forecasts align with the devolution agenda of Andy Burnham, the prime minister, who has promised to deliver “good growth in every postcode” and wants to reduce the country’s reliance on London, which accounts for about a quarter of the UK’s economic output. Last month he opened a northern branch of Downing Street, No 10 North, as part of his plans for wider political devolution and regional economic growth.

“The appeal of these regional cities shouldn’t be underestimated. But growth isn’t determined by businesses relocating or creating new jobs alone,” Bohane said. “When professionals move into an area, the benefits ripple through the local economy. Increased demand supports everything from transport and housing to cafés, co-working spaces and the wider network of local businesses that keep these cities running.”

Jamie Young

Jamie Young is Senior Reporter at Business Matters, covering SME finance, employment law and Westminster policy since 2016. He has reported on every Budget and Autumn Statement since 2018, helped make sense of the ‘covid era’ and the bounce-back loan scheme from launch through the fraud investigations, and broke the magazine’s coverage of the 2024 late-payment reforms. He joined Business Matters straight from completing his BA in Administration from Exeter University and is NCTJ-qualified. Reach him at jyoung@cbmeg.co.uk

US prices rose 3.4% in the year to July, slightly lower than the 3.5% in the year to June, new figures show.

Energy remained volatile as the Middle East conflict has continued, with gasoline up 24.6% over the year. The sharp rise reflects ongoing strains in global energy markets, even as overall energy costs dipped in July.

Month to month, inflation rose 0.1%, mainly due to an increase in housing costs, the Bureau of Labor Statistics said. Even small moves in rent can lift the overall headline figure as it makes up a large share of household spending.

Food prices rose only slightly in July and at a slower rate than in June, while energy prices fell, offering some relief for consumers.

Prices excluding food and energy rose 0.2% after staying flat in June, with medical care and airline tickets edging higher and car insurance continuing to fall.

The new Federal Reserve chair, Kevin Warsh, has said the central bank’s priority is to “keep inflation moving down” while avoiding unnecessary shocks to the economy.

President Donald Trump has also said inflation is still too high for many families, pointing to rent and grocery bills as signs that the cost of living remains a major concern.

Financial markets reacted calmly to the latest figures, with stocks little changed as the figures were broadly in line with market expectations.

Recent labour market concerns have also softened expectations for a rate increase, after July’s report showed a loss of jobs.

The Pattyman has secured loaning funding from the Development Bank of Wales to expand

A Cardiff-based artisan food firm is set to scale up production of its Jamaican-inspired produce to meet growing customer and trade demand.

Founded by Leroy Williams in 2021, the Pattyman began as a home-based venture inspired by his late parents -a father from the Windrush generation and a mother from the Valleys. Drawing on traditional family recipes,

Mr Williams set out to create a food business that celebrates both sides of his heritage through authentic Jamaican-inspired products influenced by Welsh culture and identity.

Operating from Tremorfa Industrial Estate, the business produces a range of artisan products including award-winning Red Pepper Jelly, sauces, relishes, jerk marinades, rum punch and Jamaican patties. The business supplies customers directly while also serving wholesale and trade markets across Wales and beyond.

At the heart of the brand is the Welsh concept of cynefin, meaning a sense of belonging and connection to place.

To support its growth it has secured a £50,000 microloan from the Development Bank of Wales. Mr Williams, said:“The Pattyman started as a way of honouring my parents and celebrating the cultures that shaped me. My dad came to Wales as part of the Windrush generation and my mum was from the Welsh Valleys, so I wanted to create something that brought those parts of my identity together.

“Food has always been about family, community and connection. Every recipe has a story behind it and every product reflects the traditions that were passed down to me.

“This investment gives us the platform to build on what we’ve achieved so far. It will help us increase capacity, support future growth and continue sharing the flavours and heritage that make the Pattyman unique with more customers.”

Dylan Evans, assistant investment executive at the Development Bank of Wales, said:”The Pattyman is a great example of a Welsh business with a distinctive proposition, strong values and clear growth ambitions. Leroy has built a brand that stands out through the quality of its products and the story behind them.

“Businesses like the Pattyman demonstrate how smaller investments can make a meaningful difference when it comes to increasing capacity, developing operations and supporting sustainable growth. We look forward to supporting Leroy as he takes the business forward.”

Financed by Welsh Government, the development bank’s £500m Wales Flexible Investment Fund supports Welsh businesses with terms of up to 15 years. Loans, mezzanine finance, and equity investments are available from £25,000 to £10m.

In today’s fast-paced corporate environment, business travel is about far more than simply reaching a destination. Executives are expected to remain productive while traveling, maintain professional standards, and manage packed schedules that often include meetings, conferences, networking events, and client engagements. As a result, reliable ground transportation has become an essential component of successful business travel planning.

Two of the most important destinations for corporate travelers in the United States are New York City and Miami. Both cities serve as major business hubs, attracting professionals from finance, technology, real estate, healthcare, international trade, and numerous other industries. Whether attending meetings in Manhattan or participating in a conference in South Florida, dependable chauffeur transportation can significantly enhance the overall travel experience.

Why Professional Chauffeur Services Matter

Business travelers frequently operate under strict schedules where delays can have costly consequences. Missing an important meeting due to transportation issues can affect client relationships, business opportunities, and overall productivity.

Professional chauffeur services help eliminate these concerns by providing scheduled transportation, experienced drivers, and executive-level customer service. Instead of worrying about traffic, parking, or ride availability, travelers can focus entirely on their professional responsibilities.

Companies that prioritize transportation planning often experience smoother travel operations and greater efficiency across their executive teams.

NYC Chauffeur Service for Executive Mobility

New York City remains one of the world’s leading centers for commerce, finance, media, and corporate leadership. Executives visiting the city often travel between airports, hotels, corporate offices, conference venues, and client locations throughout a demanding schedule.

A professional NYC chauffeur service offers a dependable solution for navigating the city’s busy streets while maintaining comfort and professionalism. Pre-arranged transportation helps travelers avoid unnecessary delays and allows them to remain focused on business objectives.

Many organizations rely on Detailed Drivers because executive transportation requires a level of reliability and service quality that supports high-level corporate travel. Professional chauffeurs understand local traffic patterns, business districts, and scheduling requirements, helping ensure a smooth and efficient travel experience.

For executives hosting clients or attending high-profile meetings, professional chauffeur service also contributes to a strong business image.

Miami Chauffeur Service for Modern Business Travel

Miami has evolved into one of the country’s most dynamic business destinations. The city attracts investors, entrepreneurs, corporate leaders, and international organizations throughout the year.

A professional Miami chauffeur service provides convenient transportation between airports, business districts, hotels, convention centers, and event venues. Reliable transportation allows executives to move efficiently throughout the city without the stress associated with unfamiliar routes or transportation coordination.

Many business travelers choose Detailed Drivers because transportation providers specializing in executive travel understand the importance of punctuality, flexibility, and personalized service. Professional chauffeurs help ensure that travelers arrive prepared and on time for meetings, conferences, and networking opportunities.

As Miami continues to grow as an international business center, dependable transportation remains a valuable resource for visiting professionals.

Benefits of Executive Chauffeur Transportation

Enhanced Productivity

Travelers can use transit time to prepare presentations, review documents, and communicate with colleagues or clients.

Reliable Scheduling

Professional transportation services prioritize punctuality and help executives maintain busy itineraries.

Comfortable Travel Environment

Luxury vehicles provide a quiet and professional setting that supports business activities during travel.

Professional Representation

Arriving in a chauffeured vehicle reinforces professionalism and creates a positive impression during corporate engagements.

Managing Multi-City Corporate Travel

Executives frequently travel between major business markets such as New York and Miami. Consistency in transportation services helps create a more predictable and efficient travel experience across multiple destinations.

Organizations that work with trusted transportation providers often benefit from improved coordination, reduced logistical challenges, and greater traveler confidence. Reliable chauffeur service becomes an important part of a broader travel management strategy.

Business travelers researching executive transportation solutions may also find resources such as best private car service NYC useful when comparing service options and evaluating transportation providers within the New York market.

Choosing the Right Transportation Partner

Selecting a transportation provider should involve careful consideration of reliability, chauffeur professionalism, vehicle quality, and customer support. Providers that specialize in executive transportation are typically better equipped to meet the expectations of corporate travelers.

A trusted transportation partner can help improve productivity, reduce travel-related stress, and support successful business outcomes.

Conclusion

Ground transportation plays a critical role in modern corporate travel. Whether utilizing an NYC chauffeur service for meetings across Manhattan or arranging a Miami chauffeur service for business engagements throughout South Florida, executives benefit from transportation solutions that prioritize reliability, convenience, and professionalism.

By incorporating trusted chauffeur services into their travel planning strategies, business travelers can maximize efficiency, maintain productivity, and ensure a seamless experience throughout every stage of their journey.