London Mayoral election 2012 A manifesto for business from CBI London
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London Mayoral election 2012
A manifesto for business
from CBI London
2012 is a pivotal year for London businesses. On the one
hand, confidence is shaky and growth slow. On the other
hand, we stand at the threshold of the huge opportunity
brought by the Olympic and Paralympic Games, not just
to showcase Britain for a few short weeks but to provide
a springboard for boosting our business reputation and
prospects over the next few years.
The CBI/KPMG London Business Survey of December 2011
shows that firms continue to rate the capital as a good place
to do business thanks to its strong skills base and access
to global markets. But there is no room for complacency, as
London also has a number of key weaknesses such as the
high operating costs, the tax environment and transport.
This business manifesto is a direct call to action to the
Mayoral candidates on the key business priorities to ensure
that London remains the destination of choice for world-class
companies.CBI London is the voice of the CBI in the capital, communicating the view of
London business to policy-makers, lobbying on major policy issues on behalf
of members and ensuring that business is playing an active role in shaping
London’s future.
Our key priorities for the next Mayor are to ensure
1 A connected city
We want the next Mayor to optimise capacity on existing networks,
deliver new capacity through the upgrade programme and Crossrail,
and deliver new integrated transport infrastructure which can serve
the capital well into the medium- and long-term
2 A prosperous city
We want the next Mayor to put growth at the heart of his/her
agenda and confirm London’s place as an economic hub
3 A global city
We want the next Mayor to drive forward the promotion of London
internationally, increasing the opportunities for London companies
to export and for overseas investors to do business in the capital
4 A talented city
We want the next Mayor to tackle the serious problem of high
unemployment in the capital, ensuring that London not only builds
up an unrivalled pool of home-grown skills but also continues to
attract the brightest people from all over the world.1 Connected city
London’s lifeblood is its transport networks – mobility and connectedness support the proper
functioning of labour and other markets and underpin economic growth. But the networks need
also to be efficient and reliable if they are to fulfil their key role. The London Business Survey of
December 2011 showed that while some improvements are being made across all transport modes,
the overall assessment of service has not reached the levels seen four years ago – the one exception
has been for the Tube where recent upgrade activity appears to be making a mark.
We want the next Mayor to
•E
nsure there is no slippage or cost •D
rive forward new transport
overrun on Tube modernisation projects for the city, including
schemes already on the table,
•D
eliver Crossrail on time and to
and examine the need for future
budget
projects such as Crossrail 2
•U
rgently tackle the problem of
•O
ptimise use of the river as an
road congestion
alternative means of transport
•E
nsure that improvements to
•W
ork with the private sector to
transport modes are maintained
develop new investment models
•M
aintain and increase the to channel more private capital
connectivity between the capital’s into projects (including pension
transport modes funds and tax incremental
financing).
Business view of London’s transport networks
4.0
Tube 5 = improving significantly
4 = improving slightly
Buses
3 = staying the same
3.5 Rail 2 = getting somewhat worse
Road network 1 = getting much worse
3.0 Docklands Light Rail
River buses
2.5 Transport connectivity
from outside London
2.0
Sep '07 Sep '08 Oct '09 Oct '10 Apr '11 Sept '11
Source: LBS December 20112 Prosperous city
London’s economic recovery should not be taken for granted, given high levels of unemployment
overall and persistent poverty and deprivation in areas of the capital. With a population forecast to
increase by around 1.25 million in the next 30 years, the city will have to develop a dynamic new
growth momentum.
We want the next Mayor to
• Influence central government •D
rive a significant rise in inbound
to create a more competitive tourist numbers through London
tax system which would benefit and Partners and on the back
London, including fulfilling its of the publicity arising from the
commitment to reduce corporation Olympic and Paralympic Games
tax to 23% by 2014 and delivering
•U
se the planning regime to be pro-
competitive personal tax levels
growth and help reduce business
•C
reate in the Royal Docks operating costs
enterprise zone a vibrant new
•W
ork with business and through
centre of development, including
the new London Enterprise
simplified planning rules and
Panel to stimulate economic
innovative use of business rates,
growth throughout the capital,
and help drive regeneration
including supporting innovation
through wider east London, as
and entrepreneurs, reducing
a model for the whole city
unnecessary regulatory burdens,
speeding planning decisions and
strengthening business support
for SMEs.3 Global city
London’s status as a world city must be maintained and strengthened to ensure it remains the
destination of choice for world-class companies. The London Business Survey of December 2011
showed that there is no room for complacency. Although on balance the capital remains a good place
to conduct business, the city’s ranking has witnessed a relative decline over the past five years.
London’s status as a global city in five years’ time
compared with now
3.0 Overall rating:
3 = improved
2.5 2 = about the same
1 = diminshed
2.0
1.5
1.0
Oct '06 Sep '08 Oct '09 Oct '10 Apr '11 Sep '11
Source: LBS December 2011
We want the next Mayor to
•C
hampion London as a world •H
elp SMEs identify and take
city and the leading place to do advantage of new trade and export
business to external audiences, opportunities, including through
ensuring London and Partners trade missions, fairs and the
adopts a focussed strategic British Business Club
approach
• L obby government to ensure that
•W
ork to influence government UK air passenger duty – Europe’s
to resist regulation which could highest – does not undermine
damage The City’s international London’s position as a good place
competitiveness and undermine to trade and invest
the prosperity of London’s world-
• Work with government to
class financial services sector
ensure the capital has sufficient
aviation capacity to remain a key
international transport hub4 Talented city
CBI members consistently identify the large and varied skills base as being one of London’s key
strengths but there is an on-going concern about insufficient numbers of talented individuals to
meet demand. At the start of 2012, unemployment was edging towards 10%, the third highest rate
of any UK region. But even before the recession there were structural problems in London’s
employment market that will not simply go away with a return to growth, given that so many young
people lack the right skills.
We want the next Mayor to
• L obby central government to build •H
elp support the introduction of
clarity into the immigration system the government’s Youth Contract
especially around the availability to get young people into work,
of work permits for skilled including raising awareness
migrants and intra-company
•W
ork with local education
transfers
authorities to improve the way
•B
uild on the progress already our schools prepare students for
made to get more people into working life through better careers
apprenticeships, by adopting bold advice, guidance and teaching
targets, broadening the appeal the skills that employers need,
of apprenticeships and cutting including helping build strong
red tape to make them easier for links between businesses and
business to implement schools.You can also read
