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Press Release

For UK Growth, For Business, For London

5 April 2010

London First Business Manifesto for the General Election

London businesses have today outlined key areas where the next government must act to protect and enhance the capital’s competitive edge.

In its five-part manifesto, London First, the business group whose members include many of London's leading private sector employers, sets out what business needs from the next government to safeguard the capital’s future economic success.

The government must:

· Spend, save and tax wisely so that short term measures to balance the budget do not undermine the UK's longer term economic prospects. Government should call upon private sector experience to deliver efficiency savings, apply rigorous cost: benefit analysis to prioritise the most productive investment and avoid tax policies which make Britain and London internationally uncompetitive

· Maintain planned investment in London's transport infrastructure which is critical to the country’s future growth

· Put in place policies to enable and encourage new commercial development and housing

· Address employability with skills training to better fit London business needs

· Give London the financial and policy autonomy it needs to maintain its competitive edge.

Baroness Jo Valentine, chief executive of London First, said:

"The dubious high street fashion for banker and business bashing before the election will soon need to be replaced by sober, sensible suits and serious policy making.

"London and London business has had a tough couple of years – made tougher by the decline in the quality of relationship between national politicians and the business community. But successful business is fundamental to national economic wellbeing and government must act to protect and enhance the UK capital's competitive edge. After the election government must work with business leaders to tackle the challenges and build a successful and growing economy."

Please view a copy of the Manifesto.



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