Next Mayor of London must commit to building 50,000 homes a year

// HA News

London’s firms want the capital’s next Mayor to keep a relentless focus on business growth, to keep the city an attractive hub for investment, creativity, skills and tourism. That’s according to the CBI’s London Manifesto aimed at mayoral candidates.

A London Prosperity Agenda sets out the UK’s largest business group’s priorities for the new Mayor on housing and transport infrastructure, the planning system, digital & technology skills, trade, tourism and financial services. Key action points include:

  • A new housing strategy within 100 days of taking office, which commits to building 50,000 homes a year
  • Press the Government to deliver the Airports Commission’s recommendation to build a new runway in the South East, and deliver Transport for London’s business plan, including Crossrail 2
  • Continue to implement the existing 2050 London Infrastructure Plan, and give a stronger voice to businesses on the London Enterprise Partnership (LEP)
  • Develop London’s ‘Knowledge Quarter’, and support London’s Digital Talent Taskforce to help address future digital skills needs
  • Provide certainty and consistency in UK tax policy to attract financial firms, and call for the Chancellor of the Exchequer to end the Bank Corporation Tax Surcharge by the end of the Parliament, once the Budget is balanced.

CBI London Director, Lucy Haynes said “London’s star has continued to rise over the past few years. From setting a new standard for hosting the Olympic Games to the emergence of Tech City, the capital has shown the world it is still the best place to grow, do business and thrive.”

“But in an increasingly competitive global race, the next Mayor must take some tough decisions from day one for London to continue to grow and prosper, and to keep the city a magnet for investment and skills.”

“From building the 50,000 homes a year the capital needs to house its talented workers, and a new runway that will boost our exports to high growth markets, to making the city a global beacon for digital and technological skills, London’s next leader has a unique opportunity to plan ahead, and position the city at the head of the pack.”

CBI want the new Mayor to work with the London Land Commission to incentivise local authorities to unlock public sector land and brownfield sites and support the ‘Build to Rent’ scheme, improving the quality and quantity of private rental housing.

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