" 'London 2036: An Agenda for Jobs and Growth' is the most significant business-led consultation project undertaken to help drive jobs and growth in a UK city. The report sets out a formula for the capital to achieve world-beating income growth, greater job opportunities than rival cities, a diverse and shock-proof economy, more homes and better transportation, as well as more balanced economic growth across the UK.
"As part of that formula, it says greater control of taxes and expanding the capital’s ability to capture the uplift in property values from transport investment will be crucial to securing the long-term infrastructure investment that will help drive the city’s growth.
"The report also concludes that 'London’s fundamental strengths in research, talent, creativity and finance should make it an unparalleled location for commercial innovation'.
"The study was produced by London First on behalf of the London Enterprise Panel, with detailed analysis undertaken by McKinsey & Co. It is the result of over 12 months’ work involving over 400 stakeholders from business, London government, central government, universities and others, and highlights three core themes for successfully developing and safeguarding London's economy:
- cementing London’s existing strengths as the world’s leading economic and business hub;
- fuelling more diverse growth by capitalising on the city’s strengths in tech and creativity; and
- addressing the challenges to London’s basic foundations.
"The report found that London is already the world’s business and talent hub while also being a centre for creativity and innovation, but it comes with the clear message that the strengths and assets that have got the capital to where it is now are not enough to maintain the city’s global leadership position, and swift and decisive action is needed to address the challenges the city faces today."