X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-Business in London has been promised quicker planning decisions and better transport under a new Economic Development Strategy, launched yesterday by the London Development Agency. The first strategic programme for economic growth in the capital in 16 years also aims to share the benefits of London’s economic boom with some of the city’s poorer districts.

Speaking at the launch of the new strategy, Mayor Ken Livingstone said priority would be given to providing new office accommodation–even if this meant skyscrapers–and to simplifying planning generally. But he added: ‘We must also make sure that London people get their fair share of the new jobs.’

The new report notes that jobs and population in London have grown steadily since the 1980s and are forecast to continue doing so. But this growth has not been matched by adequate investment in infrastructure or public services. London is now experiencing critical shortages in transport, skills, housing and business premises.

The LDA claims widespread support for its strategy but the Royal Institution of Chartered Surveyors warned that it risks being too diffused to be effective. The RICS welcomed the LDA’s pro-growth approach but says it would do better to concentrate on a few key London-wide issues, address problems with the delivery of these and then let local partnerships and London Boroughs implement them at a local level.

‘We are concerned that there may be too many visions for London with no clear means of realising them,’ says RICS senior policy officer Joanna Sumner.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.