Rutland is the 'most prosperous' district in the region, according to a brand new prosperity index published tomorrow.

The Legatum Institute uses 256 indicators based on the latest available data (predominantly from before Covid-19 struck) to provide a comprehensive assessment of institutional, economic, and social wellbeing across the country's 379 local authorities.

The Index will be used to track the Government's 'levelling-up agenda' and hold decision-makers to account for improving the prosperity of all regions of the UK.

The Index reveals that the East Midlands is the 5th most prosperous region of the UK, with low levels of crime and poverty, and strong living standards. However, the region performs below average on quality of health and education.

The Index shows that the East Midlands' key strengths are:

Safe and secure communities: the region has low levels of crime, especially in rural areas and the North Midlands, with a homicide rate of just 9.1 per 100,000 people compared to the national average of 11.2.

An investment environment that is improving, in contrast to a national decline: a quarter (25%) of small businesses in the region want financing for new processes, up from 8% a few years ago.

Good conditions for local businesses: there is a healthy labour market with only 30% of vacancies classified as 'hard-to-fill', the lowest rate in the UK. Nottingham and Derby typify some of the most supportive business environments in the region, with few frustrations around tax compliance or local government restrictions.

Strong living conditions: there are low levels of poverty and only 1% of residents do not have access to a bank account.

However, the Index also reveals that there are opportunities for the East Midlands to 'level-up', including:

Continuing to improve infrastructure: the region does not have strong transport connections, in particular across rural areas and the North Midlands, and the nearest major train station is an average of 76 minutes away by public transport from homes in the East Midlands, compared to the UK average of 59 minutes.

Improving the quality of the local economy: only 8% of businesses in the East Midlands are high-tech, compared to the UK average of 10%, and the region has one of the lowest export turnovers for small businesses in the country.

Improving healthcare systems: just 73% of A&E attendances are dealt with in four hours compared to the national average of 79%. Residents in rural areas of the East Midlands generally enjoy better health than those in urban areas; for instance, the suicide mortality rate is more than twice as high in Lincoln and Nottingham than in rural Harborough.

Improving performance on education, especially in urban areas: less than 40% of low-income pupils pass GCSEs in English and Maths, one of the lowest rates in the UK.

Professor Matthew Goodwin, Director of the Legatum Institute's Centre for UK Prosperity, said: "The UK Prosperity Index is the most ambitious assessment of prosperity across the country to date. With detailed data on all boroughs and council areas, it is a transformational tool that can help policy makers and influencers target their interventions more effectively on the journey towards greater prosperity.

"The Index will be updated annually, allowing citizens, businesses, local authorities, regions, and national government to track progress over time and hold decision-makers to account.

"The holistic and rigorous approach we have taken has allowed us to identify issues that have previously been missed in the discussion about how to level-up the country. It highlights that while the East Midlands performs well on the safety of the community and living standards, we also need to invest in areas such as health and education if we are to see all citizens, neighbourhoods, and communities in the region reach their full potential. We hope our Index will help leaders across the East Midlands set their agendas and implement strategies that will unlock real prosperity."

At a local authority level, the Index shows that:

Rutland is the most prosperous local authority in the East Midlands, and 12th in the country. Its citizens are safe, have strong personal and family networks, and are politically active with high local and national voter turnout rates. Pupils across the Rutland also achieve strong secondary education results.

North Kesteven ranks 1st in the country for governance and has the highest quality of local government integrity in the UK. Citizens perceive local politicians and MPs as doing what is best for the people, rather than doing special favours.