Business & Economy
COVID has hit London hard. With more and more people working from home, thousands of businesses that service commuters and retail shoppers face extinction. Unless immediate action is taken, our city risks being hollowed out from the centre. We need a Mayor who not only recognises the scale of the threat but has a compelling vision for our city’s economic recovery with experience in driving business.
I will be supporting start-up businesses with free office space, helping entrepreneurial women finance new businesses and driving commercial engagement between London with leading cities and business centres across the globe. This will include a new era of engagement with leading key Commonwealth economies, such as India, Canada and Australia, to fill the gap left by Brexit. London will remind the world of its status as a first-tier economic powerhouse.
- Free co working office space for start-ups for first 6 months
- Spearhead international Trade Delegations to Commonwealth and other international cities to encourage business tunnels City to City
- Tech London – To make London a world leading Tech city, developing the next generation of coders to lead the globe on Fintech and website / app development. Coding centres will open across London to teach all ages coding, including youth and professionals looking for a career change
- Introduce inward investment benefits for investors investing or starting up in London. Including lobbying the government for reduced corporation tax on tech companies
- Manufacture CBD products in London, which will in turn bring millions back into the economy. CBD is one of the fastest-growing industries in the world. It is estimated to reach £1.32 billion by 2022 & forecasted to be a £16 billion pounds by 2025.
- Work closer with Embassy trade teams to host inward business trade delegations in London
- Protect the High Street retail shops from increases in rent and rates
- Introduce tech apps with pick up and drop off services, for local high street shops, to provide digital access to services and provide a lifeline to shops that cannot compete with giants like amazon
- Business Incubators – Providing support for SME businesses, with courses on marketing, social media, financial and project management
- Introduce the new ‘Made in London Seal’, to promote London made products in markets across the globe and foster loyalty to local brands in our home market. This will empower our local manufacturing and assist them in competing with cheaper low-quality products flooding international markets.
FOREIGN DIRECT INVESTMENT (FDI)
- Push the Government to freeze stamp duty for new investors that buy commercial assets in London. The freeze will apply for the first year on all commercial purchases
- Introduce City to City Business tunnels with cities across the world, focusing on the Commonwealth group of nations. This will provide start-ups and small businesses access to international markets and provide trading partners for foreign investors to attract FDI back into London
- A reduction on corporation tax for tech companies
Create a talent pool of locally trained world class coders to attract companies to invest in Tech London
- Attract foreign companies to set up and manufacture in London to use the London Seal of approval brand
- With the retreat of the pandemic a travel to London campaign will be introduced into key markets across the globe
- The London travel campaign will boost tourism into London, we will work with local businesses and smaller establishments to promote greater London attractions
- City Hall will work with tourism and hospitality businesses, large and small across, to help them redefine their offering and seize new opportunities as the travel industry slowly reawakens
- Key to the strategy will be to increase the desirability London as a travel destination by inspiring more people to visit, stay longer and spend more
- City Hall will drive collaboration amongst London’s stakeholders to grow tourism in the region
- Gaps in infrastructure, signage, planning, and service delivery will be identified and removed to ensure an improved visitor experience in target markets
- City Hall will make London a year-round proposition for leisure and business travellers through promoting high profile events and festivals
- Amsterdam attracts 20 million tourists to their legal Cannabis cafes. London will pilot legalised Cannabis in specific areas across the city and, with strict controls, explore opportunities for associated tourism opportunities