"Today's announcement isn't just about faster trains - high-speed rail will create up to 30, 000 station-supported jobs in Manchester and help to drive productivity in the region, bridging the economic gap between the North and the South, " he said.

BBC: HS2 to enter Manchester via tunnel under city

The gap between north and south in income per head may have narrowed a little, but the south is still about a third poorer.

ECONOMIST: Bad habits die hard

Such globalisation has already narrowed the overall gap between North and South.

ECONOMIST: The Johannesburg summit