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London Conference 2013: London’s Economy

London Conference 2013: London’s Economy. Mark Kleinman Director, Economic and Business Policy Greater London Authority. London’s economy – fundamental strengths. Vast, global city economy Job growth of over 800,000 between 1996 and 2011; forecast of 850,000 2011-2036

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London Conference 2013: London’s Economy

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  1. London Conference 2013: London’s Economy Mark Kleinman Director, Economic and Business Policy Greater London Authority

  2. London’s economy – fundamental strengths Vast, global city economy Job growth of over 800,000 between 1996 and 2011; forecast of 850,000 2011-2036 International centre of trade and innovation Resilient, diverse economy Strong globally competitive position

  3. London is a sought-after business location

  4. Firms can access a large volume of people who themselves are attracted to live and work in London. Number of residents accessible by public transport in 45 minutes Source: TfL

  5. London’s deep assets: (1) Knowledge Economy

  6. London’s deep assets:(2) Global Hub

  7. London’s global assets:(3) Infrastructure

  8. So there is a concentration of employment in London, particularly central London. Number of people in employment per sq km, all sectors Source: ONS (BRES) 2011

  9. London’s labour productivity GVA per hour worked index, London, 1996 – 2009, UK = 100 (Source: ONS/BIS 2010)

  10. London’s employment (as well as population) is forecast to grow further Source: GLA Economics Working Paper 52, Workforce Jobs series (ONS), GLA Economics calculations

  11. … particularly in the professional business services sector. Source: GLA Economics Working Paper 52, Workforce Jobs series (ONS), GLA Economics calculations

  12. Mayor of London’s Policy Priorities • Mayor’s 2020 Vision and the recommendations of London Finance Commission • Economic diversification, especially linked to science, tech and world-class universities • Next round of infrastructure – Crossrail 2, housing, cycling, airport capacity • Expansion of Central Business District – Kings Cross, Battersea, Canary Wharf etc • Links to Greater South East and the UK • Economic opportunity: 250k apprenticeships target; 200k jobs from GLA investment; London Living Wage

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