The Vital Role Businesses Play In Shaping London's Success

Ever since taking office in 2016, I’ve sought to live up to my promise to be the most pro-business Mayor ever.??

Together, we’ve weathered some testing, turbulent, times. From Brexit, to the pandemic, soaring interest rates and inflation.????

But thanks to our collective efforts, I truly believe London’s economy is growing stronger by the day.? We’ve already achieved so much including:??

• 850,000 new jobs created in our city?

• London’s economic output up by at least 5% despite the negative national headwinds.?

• A sixfold increase in the number of Living Wage accredited employers?

• More than one million adult learners supported through our skills programmes?

• ￡1.4 billion worth of contracts for small businesses awarded by London’s Anchor Institutions?

Earlier this week we announced, with the help of London & Partners, that London has attracted a record-breaking ￡100 million worth of international investment in the first nine months of this year alone.???

I’m also confident that there’ll be even more to come.???

I was extremely proud to announce that along with London & Partners, we’ve now supported more than 10,000 entrepreneurs through our Grow London Local programme.??This demonstrates that our policies aren’t just benefitting investors abroad, but also communities at home.???

As our economy picks up steam and powers ahead, we want more Londoners to be carried along with it and feel this progress in their pockets. This means building on what we’ve already accomplished, but also breaking down the main barriers to growth, including:??

• Tackling surging housing costs?

• Addressing the previous Government’s underfunding of our transport network?

• Dealing with a shortage of skilled workforce, which we plan to address through a new Inclusive Talent Strategy that will be central to our new growth plan?

It’s clear the new Government has made economic growth its defining mission and partnering with the private sector a priority.??In London, the early signs couldn’t be more positive.??

Already, the new Government has supported London’s ambitions by:??

• Clearing the way for a major housing development at Cockfosters?

• Giving the green light for City Hall to proceed with our housing blueprint—the London Plan?

• Supporting our plans to regenerate Oxford Street?

While nothing is guaranteed, I’m also encouraged that our lobbying is paying off with HS2 likely coming to Euston.??

I’m continuing to stand up for London by making the case for more investment in our city’s transport network, including in projects like the DLR extension to Thamesmead.????

Developments like these can make huge strides in the right direction, moving us towards delivering the housing, skills system and modern transport links our businesses —and our people—need to flourish and thrive.??

It’s why I’m more optimistic than ever about our city’s fortunes.??

Working together with the new Government, we have an historic opportunity to usher in a new era of growth and prosperity for our capital and our country.???

I also know that we can’t do it alone.?We need our brilliant business community with us every step of the way.?The jobs, wealth and prosperity businesses create for our communities is the backbone our city, whether it’s by:??

• Taking on and training up apprentices?

• Building affordable housing?

• Paying the London Living Wage?

• Bringing valuable insights and expertise to helping shape our new Growth Plan??

The value businesses add to our economy, and the difference they make to our society, is immense.??

Together, I’m confident we can not only build a better London for businesses, but a better London for everyone.? A city that is fairer, safer, greener and more prosperous for all.??

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