A ‘long-term economic plan’ for London

Today the Mayor, with the Chancellor of the (UK) Exchequer, held a press conference at Tate Modern and announced this plan.  The full text is on a government web site here.

This ‘plan’ closely resembles the London 2035 document produced last month, prepared by McKinsey and Co for London First and presented by them to the London LEP (London Enterprise Partnership) with the addition of a long list of projects.

Neither document was based on consultation with Londoners or their organisations, but both appear to reflect the interests of big business.

Just Space will be working over the coming months to help citizens and community organisations to develop their own ideas about what should be in a London plan which would serve Londoners. Recent work by Just Space and its member groups suggests that priorities would include:

  • Raising GDP through raising wages and productivity in what are currently low-paid jobs and sectors (which would contribute to greater equality, compared with the Mayor’s emphasis on high pay sectors).
  • Diversifying the economy of London, nurturing the public and private enterprises we DO have in all sectors, not just focusing on new inward investment in a few services.
  • Maintaining and growing services and jobs in manufacturing, making and re-making of all kinds, retrofitting and greening the city’s activities – which would mean protecting land and buildings where people work in suburban London from the threat posed by the switch of land to over-priced housing.
  • Focusing housing policy on stopping the shrinkage of the social housing stock, turning that round and growing the social-rent sector; improving conditions and lowering rents in private housing.

(blog post in progress)