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UK cities London 'dependent'

Deputy Prime Minister Nick Clegg will warn today against the London-centric business model, that has cost the economy more than £40 billion a year, allowing other UK cities to "wither".

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Clegg: 'Must be more than one jewel in our crown'

In an address to financiers and city figures today, Nick Clegg will warn about the London-centric economy.

He is expected to say the country could benefit from an additional £41 billion a year if the economy gap between London and other UK cities was closed.

It is in everyone's interests - not least London's itself - if that potential is now tapped. There can - and must - be more than one jewel in our crown.

The challenge for us is to rebuild our economy so that it runs on all cylinders.

– Nick Clegg, Deputy Prime Minister

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