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Safeguards for London transport – letter from business leaders to the Guardian (10 May)

A version of this letter appeared in the Guardian

As we enter a new political era, our country faces huge challenges. We recognise the need for change, but must also remember the absolute necessity of maintaining the crucial investment in our transport system, the foundation upon which our success is dependent.

London is the powerhouse of the UK, consistently generating a huge tax export for the nation, and contributing more to the Treasury than any other region. Our economy is bigger than those of Scotland, Northern Ireland, Wales and the East Midlands combined.

Although we are upgrading our infrastructure, much more needs to be done. Our tube network, the oldest in the world, carries around the same number of people as the entire national rail network. The crucial tube upgrade work must continue to address the mistake of past underinvestment. Our vital bus network carries even more people again and needs to be maintained. To protect our future competitiveness we must deliver Crossrail – the country’s most significant economic development project. It will bring up to £36bn to the national economy and must proceed with value for money at its heart, but as planned and without delay.

Our message to those now facing the responsibility of government is clear: London’s transport settlement must be safeguarded, and any diminishing of it will be to the detriment of the entire country.

Boris Johnson, Mayor of London
Colin Stanbridge, Chief Executive, London Chamber of Commerce and Industry
Baroness Jo Valentine, Chief Executive, London First
Stuart Fraser, Chairman of the Policy and Resources Committee, City of London Corporation
Sue Terpilowski, Chair, London Policy Unit for the Federation of Small Business
Sir Martin Jacomb, Chairman, Canary Wharf Group plc
David Campbell, President & CEO, AEG Europe / The O2
Colin Matthews, Chief Executive, BAA plc
Tony Pidgley, Chairman, Berkeley Group plc
Rod Macdonald, Chairman, Buro Happold
George Iacobescu, Chief Executive, Canary Wharf Group plc
Roy Hill, European Managing Director, CH2M HILL
Robin Hall, Chairman, Cinven
Stuart Popham, Senior Partner, Clifford Chance
John Connolly, Chairman, Deloitte
John Burns, Chief Executive, Derwent London plc
Toby Courtauld, Chief Executive, Great Portland Estates plc
Peter Vernon, Chief Executive, Grosvenor, Britain and Ireland
David Atkins, Chief Executive, Hammerson plc
Richard Reid, London Chairman, KPMG LLP
Simon Johnston, Senior Partner, Nabarro
Ian Powell, Chairman and Senior Partner, PwC UK
Nick Shattock, Deputy Chief Executive, Quintain Estates and Development plc
Malcolm Grant, President and Provost, UCL
James Wates, Deputy Chairman, Wates Group Ltd

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