London First newsletter

The Coalition’s commitment to reducing spending whilst maintaining vital services and supporting economic growth sends the right signal to business and the markets.

As Government plans how to restore the country’s finances it will need to ensure that policies do not harm the UK’s fledgling recovery or its international competitiveness. These principles form the basis of London First’s five key challenges for the new Government.  We will be writing to the Chancellor ahead of his Mansion House speech and 22 June Budget, drawing on our recent reports:

A balanced tax policy, built on fairness, due process and competitiveness, is needed.  Our new report calls on Government to avoid knee-jerk tax rises which put the UK’s reputation at risk.  A tax system which is competitive in terms of corporate and personal tax will ensure that the most talented individuals are attracted to London.  A sustainable and predictable approach to developing and implementing tax policy will restore confidence.

A balanced tax policy – Supporting UK growth

Cutting public sector costs while retaining outcomes is the subject of a London First draft paper.  Taking examples from the education and skills sector, it suggests a rigorous approach to spending decisions, to ensure cuts target those programmes which add least value.  This paper will inform our work to influence Government’s autumn spending review.

A job worth doing – Pre Budget draft

Jo Valentine examines the Coalition’s twin challenges of managing down the deficit while supporting economic growth – read the article

Crossrail has received the green light from new Transport Secretary Philip Hammond, while all parties redouble their efforts to drive down costs. Only savings which can be achieved without cutting the scope or wider economic benefits of Crossrail should be considered. Business support rests on the project delivering on its promises. This was our message to London MPs ahead of an adjournment debate about the importance of Crossrail.

Philip Hammond joins London First members at an event shortly before the Government’s 22 June Budget to set out his transport priorities and discuss the transport investment London needs to support economic growth. London First will also publish a report on the criteria for judging the economic value of transport investment.

For more information please contact Rob Fox

Transport for London is to buy out Tube Lines, the infrastructure company responsible for parts of the Tube modernisation programme.  This acquisition is a welcome relief from continuing public acrimony around the Tube PPP but puts the onus squarely on Boris to deliver the better Tube which London businesses and commuters need. TfL must now deliver Northern and Picadilly line improvements, with the same efficiency that the Arbiter says Tube Lines was delivering. The upgrade of this vital infrastructure must be prioritised and funded if London is to accommodate new growth.

Contact Rob Fox

London First is relaunching Leadership Exchange, the joint mentoring scheme which brings together police and business leaders to exchange expertise on leadership and management issues. With over 400 successful pairings since it began in 2001, this initiative aims to strengthen links between London’s police services and business community at a senior level, offering a fresh perspective to the work practices of both parties.

If you would like to know more about taking part, please contact Jane Cunningham