The City of London Corporation, as part of London Councils, joined the Mayor of London to launch the London Growth Plan.
The plan identifies opportunities for London to unleash growth in industries such as artificial intelligence (AI), life sciences, robotics, cleantech, the creative industries and quantum computing. This will be underpinned by London’s leading global role in the core industries of finance, insurance, professional and legal services and will dovetail with the focus on supporting London’s entrepreneurs and small and medium-sized enterprises (SMEs), which have boundless potential to grow and scale-up.
There is a really strong theme emerging around education and talent intensification. London produces 140,000 graduates annually from its 40 universities. That talent is key to driving future growth in London.
The plan includes 5 core actions:
· Back businesses and innovation by helping small businesses to scale up and investing in cutting-edge sectors, like AI and clean tech.
· Upskill Londoners for the jobs of tomorrow helping every Londoner to find good work, which in turn will help our economy to grow.
· Deliver more affordable housing and infrastructure. From new rent-controlled homes to major transport upgrades, we want to make it easier to live, work and move around London.
· Ensure London is seen as the best place to invest, work and innovate – whether through green finance, tech or life sciences.
· Revitalise local economies, with a £21 million pound boost to local high streets to ensure every borough benefits from growth.
The plan will help create 150,000 well-paid jobs, put an extra £11,000 a year in Londoners’ pockets, and generate billions in tax revenue for public services. This will drive growth across the UK while building a better, fairer, and more prosperous London for all.