Centre for Cities’ report, Capital losses: The role of London in the UK’s productivity puzzle, published in partnership with EC BID, shows that over the last 15 years London’s productivity growth has both trailed its international competitors and has been the main cause of the UK’s productivity struggles, costing the national economy tens of billions of pounds per year.
We launched the report at 22 Leadenhall Building, with thanks to RSHP architects, with a panel discussion and networking event, hearing from the following speakers.
???? Andrew Carter, Chief Executive at Centre for Cities
???? Chris Giles, Economics Editor at Financial Times
???? Paul Swinney, Director of Policy & Research at Centre for Cities
???? Kate Hart, CEO at the EC BID
???? Professor Tony Travers, Director at LSE London
Kate Hart, CEO of EC BID, said:
“From a private sector point of view, I think there is a danger that we look at the list of recommendations of this report and say well that’s not for us to solve. I strongly urge us in the private sector to lean into what this report is telling us and think creatively about what we as a sector can do about it.
“There are many factors involved in supporting and stimulating economic growth.
“BIDs are leading the way and working with partners to create the best possible environment that will support good growth, competitiveness, and employment whether that be by investing in public realm, delivering against our ESG commitments, or helping in other ways to secure a vibrant city offer.
“Secondly, the FT’s coverage of this report points to an important issue: “London’s slowdown to blame for weak UK productivity” – we are reminded of the integral role the capital plays in driving the whole UK economy.
“The case for supporting areas outside of London who are suffering from poor economic outcomes is a strong one. However, this narrative is often accompanied by a framing against London.
“A more collegiate approach between our nation’s great cities would undoubtedly drive better outcomes. Ultimately, we need a grown-up discussion about the narrative of our capital city, with us not shying away from the role that London plays in the UK economy and gives our policy makers ‘permission’ to invest in and support London.”