London deficit

Meeting: 
MQT on 2007-05-23
Session date: 
May 23, 2007
Reference: 
2007/1239
Question By: 
Damian Hockney
Organisation: 
One London Party
Asked Of: 
The Mayor

Question

Given the growth of the London deficit as calculated by the London Chamber of Commerce and the success of Scottish nationalism at the recent elections, does the Mayor agree with One London that it is time to renew his "London nationalist" campaign to support vital infrastructure projects such as Crossrail?

Answer

Answer for London deficit

Answer for London deficit

Answered By: 
The Mayor

I have consistently made the case to Government that a greater share of the wealth we generate here in London should be fed back into the capital, and I also continue to take every opportunity to press the case for the infrastructure and other investment London needs to sustain its economic success.

I have often pointed out that the success of London's economy is vital to that of the UK as a whole. If London is to continue to be a net wealth generator for the nation, then the Government must continue to invest in the capital - in Crossrail and in other areas of public spending that I set out in my submission to this year's comprehensive spending review, Invest in London: Invest in Britain.