Draft London Plan Panel Report (Supplementary) [2]

Session date: 
September 17, 2003
Question By: 
Mike Tuffrey
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor

Question

): I have every sympathy with what you are saying about the limited powers that the LDA as an agency, actually has. This is why the strategy, and indeed the London Plan itself, is crucial in setting out a framework and a vision for all the players all the big firms that you are talking about to try and contribute to the wider regeneration and goals for London. This is why I come back to saying: do you accept what the inspectors are saying around the need to have an economic objective at the heart of the plan that stresses the diversity of London's economy and does not just focus on the financial services sector?

Answer

Answer for Draft London Plan Panel Report (Supplementary) [2]

Answer for Draft London Plan Panel Report (Supplementary) [2]

Answered By: 
The Mayor

: At the heart, I think, would be a mistake. The reality is we have seen effectively a doubling of finance and business services in this city over the last 30 years. It has become the predominant sector of our economy and the Economic Development Strategy and the way that it feeds into the London Plan has to reflect that reality. We are competitors with other major international cities, not with anywhere else in Britain basically, and the wealth and success of London for the future rests on protecting that.

The reality is that if we wanted to really tackle social exclusion, there are two routes. You can either intervene massively and expensively with a very high failure rate to create a lot of small and medium enterprises, or you could persuade the firms that we see over there to have a serious equal opportunities policy and that would deal with the problem infinitely quicker.