London’s economic challenges
Historically, London’s economy has had higher economic growth rates than the rest of the country. However, London’s growth rate has slowed following the financial crisis of 2007/2008.1
Since the pandemic, growth in London has more closely tracked growth in the rest of the country.2 Recent analysis suggests that productivity in London has been lagging behind other large UK cities, which have seen larger increases in productivity in recent years.3
The Mayor and London Councils jointly published the London Growth Plan in 2025.4
The plan intends to address a set of challenges, summarised as “weak productivity growth, a housing crisis, high poverty rates despite a dynamic jobs market and public services suffering from underinvestment.”5 It is intended to build on the central government’s five missions: growth, reducing crime, clean energy, giving children the best opportunities and improving the NHS.6
At an All-Assembly meeting tomorrow, Members will ask questions about London’s Economy, Jobs and Growth and the Mayor’s Growth Plan. The guests are:
Panel 1:
- Howard Dawber OBE, Deputy Mayor for Business and Growth and Chair of London & Partners
- Alex Conway, Assistant Director of Economic Development and Programmes, GLA
Panel 2:
- Allen Simpson, CEO, UKHospitality
- Muniya Barua, Deputy Chief Executive, BusinessLDN
Following the Q&A, Assembly Members will debate these motions.
The meeting will take place on Thursday 5 March 2026 from 10am in the Chamber at City Hall, Kamal Chunchie Way, E16 1ZE.
Media and members of the public are invited to attend.
The meeting can also be viewed LIVE or later via webcast or YouTube.
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Notes to editors
- Measured in terms of gross value added (GVA); for more information, see Office for National Statistics, A guide to interpreting monthly gross domestic product, 10 July 2018
- City Intelligence, The State of London, June 2025
- Centre for Cities, Are Britain’s big cities catching up with London?, 15 October 2025
- London Councils, London leaders unveil Growth Plan to turbocharge productivity and add more than £100bn to London’s economy, 27 February 2025
- Mayor of London and London Councils, London Growth Plan, 27 February 2025 (p.6)
- Mayor of London and London Councils, London Growth Plan, 27 February 2025
- Full agenda papers.
- As well as investigating issues that matter to Londoners, the London Assembly acts as a check and a balance on the Mayor.
For media enquiries, please contact Alison Bell on 07887 832 918 or at [email protected]. For out of hours media enquiries, call 020 7983 4000 and ask for the London Assembly duty press officer.