Transport infrastructure investment should be the top priority for the next London mayor, according to a survey of London businesses.
Published by the CBI and the CBRE today, the London Business Survey found 76% of companies highlighted improving the capital’s transport as the number one issue.
Specifically the congested road network was cited as the top infrastructure priority for more than half of businesses (56%) this was followed closely by better digital connectivity (49%).
Nearly two thirds (59%) called for more quality and affordable housing and two fifths (41%) raised the need for more effective and strategic planning decisions to be taken.
Lucy Haynes, CBI London Director, said: ‘As a first class global city, London is alive and kicking to the changing demands of the twenty-first century. But relying on creaking infrastructure and failing to build enough homes for London’s workers is eating away at firms’ potential to grow and create jobs.
‘From day one at City Hall, the next mayor must take meaningful steps to improve transport links and boost the systemic lack of affordable housing. Failing to do so will see talented, skilled workers overlooking the capital for other cities - nationally and internationally, to live and work - hampering the success of London’s businesses.’
More than 130 companies were polled for the survey, which revealed a fairly buoyant mood in the capital with the number of firms planning to expand solely in London at 50% - its highest since 2012.
Adam J. Hetherington, central London managing director, CBRE UK, said: ‘If London doesn’t have the necessary infrastructure, vision and the planning freedom to make those visions a reality, its time in the sun as a global destination will be short-lived. World-class infrastructure, whether it be road networks or digital connectivity, are the foundations on which a growing city and thriving economy must be built.’
