Problem is the city of London produces a lot of the counties GDP , unfortunately successive governments ( both labour and conservatives) have shifted our economy more and more away from manufacturing which was/is prominently done in the north , to the services sector which the City of London is a world power house in , always has been and will always be ( city of London not to be confused with London, two completely different beasts ).
I completely agree something needs to be done about this , how I don’t know , it will be a long road trying to rebalance it where our manufacturing has been declining for years and years , also not helped by most of this generation don’t want to learn a trade / get their hands dirty etc , it’s all I want it now culture