The Growth Challenge and the role of the MayorMark Kleinman, Assistant Director, Economic and Business Policy, GLA

London’s Economy: Strengths and Threats

Vast, global city economy Job growth of 800,000 between 1996 and 2008;

possibly another 750,000 by 2031 – 5.45 million in total.

International centre of trade and innovation Resilient, diverse economy Strong globally competitive position But threats to competitiveness, worklessness,

quality of life

Cities drive national economic growth• London’s growth will drive national recovery (jobs, GVA, deficit reduction)• Mayor’s economic role strengthened in Localism Bill; LDA folding in to GLA •Frameworks for growth in EDS and London Plan•Central government initiatives, e.g Tech City East•Greater South East scale and context

London mega-city region

1991 Commuting Networks overlaid on 3D map of in-commuting

Advanced Producer Services (APS) information flows connect towns & cities at a global ‘mega-city-region’ scale. The mega-city region “is the fundamental urban reality of the early 21st century (Sir Peter Hall) The mega-city region “is the fundamental urban reality of the early 21st century” (Sir Peter Hall)

                                                                                                                                                                                                        

Mayor’s Economic Development Strategy: Key Themes

London: World Capital of Business Improving London’s Competitiveness Transforming to a low-carbon economy Extending economic opportunity Investing in London’s future

EDS is a long-term high-level strategy

How the Mayor supports growth •Maintaining and improving London’s competitiveness •Role of the GLA Group – planning, transport, procurement •London Enterprise Partnership – working with London business and boroughs•International Promotion of London – London and Partners•Strategic use of European Programmes •Quality of life issues

Thank You