The new government in England has asked all of the Mayors to come up with ideas to strengthen their economies. But this isn’t a new concept – the Labour Party has been talking about this for a while. Even the Conservatives had similar plans back in 2010. So, the question arises – will these plans actually work, and do we really need them when there has already been plenty of thinking and planning done for different regions?
In London, the local authorities and City Hall have been working on a growth plan. The plan aims to support the high-performance sectors in the city like financial services, tourism, and education while also addressing the inequality and lack of productivity seen in some areas. The plan also emphasizes the importance of boosting local economies outside of the Central Activities Zone, which includes the West End and Canary Wharf.
However, it’s not just about growth at all costs. The plan also focuses on equipping Londoners with the skills needed to secure good jobs. The goal is to create more high-quality, well-paid jobs in the capital by 2028. This will require collaboration between public and private sector organizations, unions, and communities.
The growth plan is still in the works, with proposals and priorities being discussed. Some of the suggestions include more devolution, a clear long-term policy, improved trade relationships, and planning system reforms. The plan will be ambitious yet practical and will align with the national industrial strategy.
Overall, the aim is to complete the London growth plan by the end of the year. It’s a comprehensive effort to ensure London’s economy continues to thrive while addressing the challenges faced by different parts of the city. The collaboration between various stakeholders is crucial to the success of this plan, and it will be interesting to see how it unfolds in the coming months.
