Economy
The North West is historically linked with the textiles industry, mainly before the mid 20th century. The Greater Manchester region produces the most economic output according to GVA in 2007 with £46,189m. Followed by Lancashire with £22,470m, Cheshire £21,317m and Merseyside £19,112m and Cumbria with £7,379m.
According to research by Cushman and Wakefield in 2008, Manchester is the second best city to locate a business in the UK whilst Liverpool is the eleventh best city. The Financial Times stated that the North West economy, led by the redevelopment of Manchester and Liverpool, is a genuine rival to 'overheated London'.
The area's electricity, formerly looked after by MANWEB and NORWEB, is now looked after by ScottishPower Energy Networks and United Utilities respectively. The Morecambe Bay gas field provides 6% of the UK's natural gas.
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Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)