Mastercard’s Inclusive Growth Score shows the recorded UK data

By Joy Dumasia

Mastercard’s Center for Inclusive Growth launches the UK Inclusive Growth Score, which uses 21 different metrics from three pillars – place, economy, and community – to showcase a postcode sector’s social and economic profile and the potential it may hold.

The platform includes scores for England, Scotland, Northern Ireland, and Wales. It provides local planners, policymakers, investors, and community leaders with a clear view of the key social and economic indicators to assessing inclusive growth.

The data analysis shows that in 2021 – out of a score of 100 – the south of the UK currently has an average Inclusive Growth Score of 54, compared to 48 in the north and 51 in the Midlands. This disparity between scores shows inequality in social and economic prosperity between the regions and highlights the need to rebalance the country.

Mastercard’s Inclusive Growth Score helps policymakers and community leaders uncover and prioritise areas where more support is needed to nurture inclusive economic and social growth. The range of indicators provide a comprehensive view of conditions in an area and help local policymakers make decisions that meet the specific needs of communities and residents through community projects, affordable housing, and investment in local businesses.

Kelly Devine, President, UK & Ireland at Mastercard, commented: “We are committed to supporting the government’s levelling up agenda and playing our part in driving sustainable, inclusive growth across the country. The Inclusive Growth Score is designed to empower the UK’s local authorities, communities, and businesses with the insights they need to take positive action and, in turn, level up the UK economy.”

Recently, IBS Intelligence reported that Mastercard Start Path welcomes 11 FinTech companies into its network to receive dedicated support, access to customers and product teams, and opportunities to co-innovate. UK FinTech Osper is among the new joiners, having already worked with Mastercard on its UK programme.