Boris unveils plan to shape City’s future
MAYOR Boris Johnson yesterday reiterated his desire to be a “champion for London” as he unveiled a definitive strategy to improve the capital and promote the City’s competitiveness as a global economic powerhouse.
Johnson’s three-pronged strategy includes interlinked documents on the capital’s overall strategic development, transport and economic development.
He said he was “determined to make London the world’s most attractive proposition for businesses, students and visitors”.
The Mayor’s economic development dossier warned that some of London’s advantages as a highly attractive business environment are being eroded by plans for public finance constraints and by higher taxation, which he said would “deter internationally mobile talent” from working in the city.
“Clear and predictable tax and regulatory regimes are necessary if London is to maintain its leading position in financial services,” he said.
“The UK’s previous position of relative strength in terms of tax burden is rapidly deteriorating… London’s businesses can only thrive if the City remains competitive – nationally and globally. However, improvement is needed if we are to stay ahead of the competition.”
Johnson singled out the Labour government’s plans for a new 50p top rate of income tax as a particular problem to be tackled. The Mayor has been an outspoken adversary of the policy, in contrast to a mixed message from other senior figures in the Conservative party.
He also vowed to drive London’s transition to a low-carbon economy, maximise investment to support growth and regeneration and promote more effective education and training.
The three documents are all now open to public consultation.