This is London’s Economic Development Strategy, prepared by the London Development Agency (lda) on behalf of the Mayor of London. It replaces the 2001 Strategy




НазваниеThis is London’s Economic Development Strategy, prepared by the London Development Agency (lda) on behalf of the Mayor of London. It replaces the 2001 Strategy
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ABOUT THIS STRATEGY


This is London’s Economic Development Strategy, prepared by the London Development Agency (LDA) on behalf of the Mayor of London. It replaces the 2001 Strategy Success through Diversity and is part of a suite of Mayoral strategies. It sets out a plan for the sustainable, equitable and healthy growth and development of London’s economy to 2016. Many of the actions presented here will be completed before that. The Strategy will therefore be updated as and when appropriate.

This is a Strategy for the whole of London. The LDA has a central role in facilitating delivering it. This will be done through a mixture of ideas, resources and partnership. More detail about LDA activity is available in the LDA Corporate Plan (available through its website www.lda.gov.uk), which should be read in conjunction with this Strategy.

This document has two parts. Part 1 presents an analysis of the issues facing the London economy and details a high-level action plan to maintain and promote further growth and development. Part 2 gives a detailed assessment of the state of the London economy and is the underpinning evidence for Part 1.

A glossary of technical terms and acronyms used in this document can be found on page 90. A summary of the Strategy is available from the LDA as are versions in a range of community languages and accessible formats on request.

About the London Development Agency

The LDA is a functional body of the Greater London Authority (GLA), along with Transport for London, the Metropolitan Police Authority and the London Fire and Emergency Planning Authority. It is also one of the nine regional development agencies (RDAs) operating across England.

The LDA’s mission is to support London’s sustainable economic growth and development. This will be achieved by:

  • promoting business growth and development across all sectors

  • promoting access to employment and skills enhancement

  • promoting London as a world city and a capital city

  • promoting economic inclusion and building on diversity

  • promoting sustainable development, regeneration of the urban fabric and development of the green economy.

The LDA supports the capital’s skills base and jobs, and improves the physical infrastructure and places needed for London’s success as a global city. It works towards London becoming an increasingly sustainable city, taking account of the major health and equalities issues currently facing Londoners.

The LDA adds strategic value by:

  • bringing together the relevant agencies and partners to intervene where the market cannot, using its financial resources, land assets and leadership skills to secure strong partnerships

  • harnessing London’s resources, its world class knowledge and research base and supporting innovation to increase productivity and employment levels, skills and business growth

  • focussing its investment in areas of greatest need and greatest opportunity and maximising the opportunity for leveraging other invesment.

  • developing an effective economic base that informs its development interventions and strategic priorities for London.

The Government provides around £350 million per year to the LDA to invest in London’s economy. This is a small proportion of the total annual economic development and regeneration expenditure in London. Therefore, the objectives and actions contained in this Strategy will need to be supported by all organisations with an interest in the development of London’s economy. These include the London boroughs, the Learning and Skills Councils and Business Link for London. Partnership working across the public, private, voluntary and community sectors is critical to delivering this Strategy. The LDA will set out what it will do to deliver this Strategy in its annual Corporate Plans and other documents.

This document is the London Development Agency Strategy prepared and published under section 41(1)(a) of the Greater London Authority Act 1999 and section 7A(2) of the Regional Development Agencies Act 1998.


CONTENTS


PART 1:

FOREWORD KEN LIVINGSTONE, MAYOR OF LONDON

FOREWORD MARY REILLY, LDA CHAIR

CHAPTER 1 OVERVIEW

CHAPTER 2 THE ROLE OF THE ECONOMIC DEVELOPMENT STRATEGY

CHAPTER 3 INVESTMENT IN PLACES AND INFRASTRUCTURE

CHAPTER 4 INVESTMENT IN PEOPLE

CHAPTER 5 INVESTMENT IN ENTERPRISE

CHAPTER 6 INVESTMENT IN MARKETING AND PROMOTION

CHAPTER 7 IMPLEMENTATION AND ACTION PLAN

APPENDIX 1 STATUTORY FRAMEWORK FOR THE PREPARATION OF THE STRATEGY

APPENDIX 2 GLOSSARY

FOREWORDS


KEN LIVINGSTONE, MAYOR OF LONDON

A VISION FOR SUSTAINED SUCCESS

London is one of the most exciting, dynamic and diverse cities in the world. It has a role in the world economy rivalled only by New York and Tokyo1, which sets it aside from other cities and regions in the country. After losing people and jobs for fifty years, it now faces unparalleled growth in both over the next fifteen years. It is experiencing the benefits and the downsides of success. Many Londoners are increasingly well-off; many others face unacceptable problems of deprivation and discrimination. In short, large-scale, complex issues confront London; ensuring its sustained and sustainable success demands action by every organisation and individual concerned with our city’s future.

To succeed, this action needs to be informed and shaped by a common understanding of the objectives to be sought and the kind of action to be taken to deliver them. That is the purpose of this Strategy, and I am pleased that public consultation on its preceding draft showed wide support for this approach and for the priorities set out here.

Like my first Economic Development Strategy, published in July 2001, this document has at its heart my vision for London – to create a sustainable world city including strong long-term economic growth, social inclusion and environmental improvement. It translates this vision into policies and proposals to help ensure that looking forward to 2016, London is a city:

  • where all share in the benefits of wealth created by a dynamic economy

  • where all Londoners can enjoy the highest sustainable quality of life, with goods, services and opportunities in easy reach, high standards of health and welfare, and a sense of safety and security

  • with efficient, safe and comfortable transport systems and ready access to affordable homes, good quality education and training, health, leisure and recreation opportunities

  • that builds on the incomparable wealth of its diversity, abolishing all forms of discrimination and making sure all Londoners have a say in their future

  • that makes efficient use of finite resources and energy, recognises and values the importance of the natural world and wildlife, minimises air, noise and other pollution and waste, and applies its immense resources of innovation and imagination to making the most of eco-friendly design and construction, recycling and the scope for development of green industries.

In 2016 the success of this Strategy will be judged by whether London has an economy:

  • that generates the prosperity needed to support a good quality of life for all London’s people and communities, and for the United Kingdom as a whole

  • that provides jobs and other opportunities for everyone, addresses the historic problems of London’s high unemployment and low employment rates, and meets the needs, and makes the best, of a growing and increasingly diverse population and workforce

_____________________________________________________________________

1 Saskia Sassen, The Global City: London, New York, Tokyo (2001), Princeton.

  • that makes the most efficient possible use of the resources available to it, whether people, land and premises, energy or raw materials, and which drives improvement in its environment and those of other regions and countries

  • that makes the most of the growth areas in which it excels; finance and business, the creative industries and tourism for example, while harnessing innovation and imagination and making the most of London’s universities and knowledge sectors

  • enabling all Londoners to realise their talents and aspirations, and which nurtures enterprises of all kinds and sizes, particularly those led by those from black and minority ethnic communities, women, disabled people, older people and other equalities groups

  • supported by adequate, modern infrastructure, including transport and communications, housing, workspace, childcare, schools and hospitals, which are affordable, accessible and appropriate for all Londoners.

Realising this ambitious vision demands investment well beyond that available to London government alone. Clear priorities have to be set and difficult choices made so that what is available is used as efficiently and effectively as possible. It means continuing to make the case for investment in London on which success relies. Without that investment the vision in this Strategy could not be realised; the city would rapidly become an increasingly unpleasant place to live and work; London would under perform its potential which would be to the lasting detriment of the whole country. That is why the need for investment is at the centre of this Strategy.

This Strategy explains how London’s economy works (and in some cases, does not), and describes ways of sustaining success and addressing failure. It describes the trends that increasingly mean only the most productive economic sectors can thrive here, and explains how London has become one of the most expensive places in the world to do business. It shows that tackling these issues is essential, in both economic and social terms. The fundamental conclusion is that to maintain success, and the benefits this brings to London, Londoners and the country as a whole, there is a need to invest in its:

  • places – throughout London, particularly those with the capacity to meet the challenge of growth set out in the London Plan

  • infrastructure – including transport and new homes

  • people – to tackle the problems that bar so many from realising their potential

  • enterprise – to help firms adapt to change, and to grow

  • marketing and promotion – at home and abroad, particularly by producing a world class bid for the 2012 Olympic Games.

It has been suggested that there is a need for an alternative plan, in case this investment does not materialise. I do not share this view. One of the reasons for having a Strategy is to make sure there is clarity and certainty about policies; without this there simply is not the basis everyone in the public, private or voluntary sectors need to ground their own investments and decisions. Our attention should be focussed on making the best possible case for what London needs, highlighting the contribution our city makes – and can continue to make – to the wellbeing of the country as a whole, and on meeting national priorities like improving productivity, tackling social exclusion and promoting sustainable development.

I asked the London Development Agency (LDA) to review the first Economic Development Strategy so it could address the developments affecting London’s economy since 2001 and take on board the framework set out in the London Plan. This Strategy moves on from managing the wind-down of the Single Regeneration Budget that was key to the first EDS, towards a more strategic London-wide agenda for action for London. This document is a plan for action, defining and explaining the most important activities for London across a range of delivery agencies. It highlights the vital importance of joint work and initiatives, mobilising assets and talents across the public, private and voluntary sectors. In a city where the public sector accounts for only 30% of the economy, no other approach will work. I see the role of the LDA – and the rest of the GLA Group – as providing leadership without stifling imagination and innovation, drawing on the knowledge and experience of all London’s stakeholders.

This is not a strategy for growth for its own sake. The London Plan describes the growth trends facing us, and the reasons for them; there is no responsible option but to be ready to meet them in a sustainable manner. Equally, we cannot be content for the benefits of economic success to trickle down to benefit Londoners or to hope that environmental imperatives will address themselves. We must ensure policies are in place to make sure our economy develops in ways that meet these challenges. But there should be no doubt that without economic success, it will not be possible to address these other priorities. It is the role of this Strategy to make such links, to point out ways of moving forward so success in one area can support progress in others, and to show how each partner can bring their own knowledge and experience to make a real contribution to sustaining success.

I have been encouraged by the enthusiasm and interest shown by a huge range of individuals and organisations during consultation on this Strategy. We must now move from analysis and discussion of aims, towards agreeing and implementing actions. We need to work together to deliver economic success, a high quality environment and high standards of health and quality of life for everyone who lives in, works in, studies in or visits our great city. This is an exciting time to be concerned with London’s future. I look forward to working with everyone with something to add to make sure it is a future we can all be proud of.


Ken Livingstone

Mayor of London

MARY REILLY, LDA CHAIR

London is a successful, dynamic and growing city. This document, ‘Sustaining Success’, sets out a strategy for the London economy, built on the Mayor’s vision for London, and embracing predicted growth for the capital over the next 12 years.

The Strategy is consistent with the suite of Mayoral strategies prepared over the last four years. It has been prepared by the London Development Agency on the Mayor’s behalf, and sets out an agenda to aid creation of the necessary conditions for London’s success to be sustained, and for the benefits of that success to be felt across the capital.

In preparing this Strategy we carefully considered the current economic conditions in London, trends that have resulted in the current situation and forecasts for future growth and development. The Strategy is therefore based on sound evidence Other strategies and initiatives (see box).

The approach taken throughout this Strategy is consistent with the Government’s Allsop Review of Statistics for Economic Policymaking which reported in March 2004 and has highlighted the importance of enhancing evidence based policy making across the public sector.

Other strategies and initiatives



At the same time, through our extensive public consultation exercise, we have listened to the views of residents, enterprises, organisations, communities and other stakeholders. The consultation on the draft Strategy provided us with significant feedback and many suggestions for change. While it has not been possible to make all of the changes suggested, those that have been incorporated have made a positive contribution to this final document.

A full analysis of the consultation responses and our reaction to them is published alongside this Strategy. Generally consultation respondents endorsed the direction for the London economy proposed in the Strategy. Most significantly, they identified implementation and action as the most important issue. This recognises that London’s growth and development is a collective endeavour, and that there is a clear need for the public, private and voluntary and community sectors to work together to achieve desired outcomes.

When revising the Strategy in light of public consultation responses, one of our prime objectives has been to ensure that the action plan clearly shows the type of activities required to make progress against strategic objectives. At the same time we have continued our dialogue with London’s economic development community. This dialogue has confirmed to us that supporting this Strategy with robust methods for joint working is as important as the Strategy itself.


The Strategy which we set before you must been seen as the start of a process, not an end in itself. It is, of necessity, a high level strategy. The LDA will be leading in its delivery. Our actions will be clearly outlined in our Corporate Plan. We look forward to working in partnership with those involved in developing the London economy to design the detailed initiatives, programmes and projects now needed to implement this Strategy. It will be by working in partnership so that we can ensure we are all focussed on ‘Sustaining Success’.

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