This week, we brought members together to share our vision for London, and discuss what the capital must do to reach its growth potential. The debate was informed by our report with McKinsey London 2036: An Agenda for Jobs and Growth.
There was strong agreement that for London to remain the best city in the world to do business, the capital must remain open to the right mix of skills and talent. The expected curbs on migration will be challenging for London, with tourism, hospitality and social care particularly vulnerable to future skills shortages.
In the long-term, business recognises we need to upskill London’s local workforce to meet the demands of the economy and give Londoners the agility to deal with a transforming labour market. In the next 20 years, the landscape is set to change significantly through artificial intelligence and automation.
Members challenged London First to identify the top three priorities from the report’s recommendations which should be reflected in the Mayor’s upcoming economic development strategy. These priorities must also be reflected in London government’s response to the Industrial Strategy green paper.
Perhaps the most important challenge from the discussion was London’s need to reconcile its relationship with the rest of the UK. London should work harder to show the interconnections and complementary relationships with other parts of the UK, which could be achieved through the Mayor of London fostering a stronger relationship with other city mayors.
Read the full report here and see our film of the key findings.
For more information about our work on London’s challenges in the next decade, please contact David Lutton.
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Our members include over 200 of the capital’s leading employers across a wide range of sectors, with a common commitment to our capital.