Capital 'will help lead UK out recession'

EDINBURGH is one of the five cities which will lead the UK out of the recession, a study revealed today.

The report by the Centre for Cities said despite the collapse of HBOS and RBS, Edinburgh had the right ingredients to succeed, including a strong private sector and educated workforce.

The Capital was second best in the UK for degree-level qualifications and third for knowledge intensive jobs.

Other top cities included Brighton, Milton Keynes, Reading and Cambridge.

Edinburgh Chamber of Commerce's deputy chief executive Graham Birse said sectors including IT, life sciences, retail and the creative industries were particularly strong.

He also pointed out that Tesco Finance, HSBC and Santander had all expanded their operations in the city recently.

He said: "What we need is investment for the city regions, such as Edinburgh, which are the drivers for new jobs and economic growth.

The study also revealed 77.1 per cent of the working age population in the Capital were employed in 2009, 12th highest in the UK.