What do you think the risks are to London’s economy in the coming years?
One factor must be the high cost of property - renting or ownership from scratch is virtually impossible without help from the Bank of Mum and/or Dad. Another factor is Brexit - already, some EU agencies are moving away from the UK and that means less expenditure from people working there. Brexit will also adversely affect the financial sector - much depends on the final negotiations of course, but some financial jobs are going to be lost to London because of Brexit - we should cancel Brexit!
Another factor is the low pay of many London jobs in the retail, catering and hotel industries. I really cannot understand how people can exist on the low salaries that so many have to endure.
The bad public transport and the cost of transport, also the so called low emissions zones
that are only a tax and will do little to clean the air.
With the 3rd Runway at Heathrow low emissions zones can only be seen as a tax.
The high rents in all sectors make it near impossible for any one on a normal to
low income to live in the area so transport is essential yet its un reliable and
most women would feel un happy at travelling alone at night.
With out the workers the rest of business will fall.
With high rent workers are forced to move.
Un reliable transport = the sack
You need to sort rents and transport
to build the economy and to keep quality staff unless these
2 are fully addressed you cant and wont retain staff.
Risks, how many do out want? The ability to live work and travel about the capital without the added burden of sneak taxes such as congestion/toxic charges. These do nothing to help reduce either conditions and just raise finance for the over controlling GLA. I suppose we must pay or the Mayor to travel to India etc which will not benefit London in any way. The heavy load of rent, rates and business taxes will kill of Londons economy anyway. All the time we have additional layers of government to finance, with politicians laying the blame at the door of leaving the EU gravy train, London will gradually sink into decline. On a note of cheer, it is only the resilience of the general public and real workers that will keep us going.
Rising sea level and other effects of climate change
For me there is so many problems so many did not pay any tax, but so high benefits my head spinning around ... Next so many did not have any education, but have quite high post that next problem ... Stand stills on roads, when Mayor of London did not worked usually in Sundays, sad ... There is more and more ...
Failing to sort out air quality will be a risk in my opinion, as people simply wont want to work in London or send their kids to schools in London.
Declining public services will make London a poorer place to live so it will be harder to attract workers
All the comments made so far put all of my arguments into the public arena. Brexit risks a loss of poorly paid workers that support a massive service sector, the loss of the EU agencies, I am somewhat ambivalent about the market traders in the City banking, considering the mess they got us into and for which none of them has really paid personally.
We must remember that London is not comprised of only people and enormous salaries but even more at the bottom who are struggling to survive let alone actually live here.
Brexit Brexit and Brexit
I think this comment covers three top risks!
Thanks everyone for sharing your views so far.
What do you think the Mayor can do to ensure London is ready for these challenges?
A key problem in London is the rising crime rates. I would be reluctant to set up a business in many parts of London nowadays.
Crime has shot up in the 18 months since Sadiq Khan has been in office. Under both Ken Livingstone and Boris Johnson crime levels fell sharply.
I feel very nervous walking down the street in many parts of London - especially Camden and Islington using a phone now
Many neighbouring areas such as Kent and Hertfordshire aren't suffering from the magnitude of rising levels of crime London is suffering from.
I wish Sadiq Khan would stop using this as a political weapon and wasting taxpayers money on gimmicks such as London Borough of Culture and invest in our police properly.
Of course Brexit will be damaging to the London Economy, but even if we had another referendum the same people who voted to leave will vote leave again that is the mentality of people, despite,the current unsettling problems London is enduring and the grey future prospects that seem to lay ahead for voting to leave the EU. Well, how are we suppose to believe that things will be better and brighter after Brexit with the UK having no true friends in the world thereafter and when London is not in a good place now?
Yet, those responsible for London are also to blame for being on a dark uncompassionate path that will also subsequently destroy the London Economy. To name just a few... Increasing Travel Fares regularly every year ...., Low Wages for the many..., No Rental Cap ( their rental fees are cruel and only benefits the Landlords) ..The increase of Crime on our Streets is starting to have an affect on Tourism particularly those with very young children as crime is making them far too afraid to visit our City and yet the government is far more concern with saving money instead of making London safer and of course by providing the right skilled Teaches in schools to focus on making children from a very young age decent human beings , knife crime is out of control!!...Lack of good and safety pedestrian crossings and pedestrian paths are keeping many shoppers away from the High Road shops....Government ministers and the London Mayor are travelling abroad far too much instead of using technology.
People love to boast that the UK is one of the most riches countries in the world but it means nothing if the country does not show its wealth by enriching our city for it prosperity which includes it citizens enrichment. There is far too much a focus on financially squeezing the ordinary average citizen which is the majority of their citizens and not enough spending in London which spells for a bleak London Forecast.