Keeping our capital working for the UK

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London as a global talent hub (13 April 2010)

Baroness Jo Valentine is Chief Executive of London First, the business organisation whose members include London’s biggest private sector employers. She said:
“London is a global talent pool. The most talented professionals, from architects to software designers, from accountants to lawyers, from corporate financiers to film-makers, choose London to base themselves. This agglomeration of talent in London and the South East creates the highest productivity in the UK, contributing  greatly to the Exchequer. We need tax policies, immigration policies and a quality of life which encourage them to stay, and more to arrive.

“This is a vital economic issue, which concerns business greatly.  We must foster growth if we are to address the budget deficit and rebuild our economy. We shouldn’t turn away those best equipped to help us do that.”

“All three main parties have privately shared sensible views on the value which these globally mobile, talented individuals bring.  My worry is that these will be overlooked in the search for votes. We should continue to welcome people who add value. Artificial caps could damage London’s competitiveness and ultimately its standing and success as possibly the most cosmopolitan city in the world.”

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