London 2062: The Future of the London Economy Mark Kleinman Assistant Director for Economic and Business Policy.
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Transcript London 2062: The Future of the London Economy Mark Kleinman Assistant Director for Economic and Business Policy.
London 2062: The Future of
the London Economy
Mark Kleinman
Assistant Director for
Economic and Business
Policy
Mayor’s Economic
Development Strategy: Key
Themes
London: World Capital of Business
Improving London’s Competitiveness
Transforming to a low-carbon economy
Extending economic opportunity
Investing in London’s future
EDS is a long-term high-level strategy
Guiding Economic Principles
Release of creativity, support
entrepreneurialism
Facilitate activity, not top-down planning
Maximum impact from use of public
resources
Collaborative approach, joint working
London’s economy –
fundamental strengths
Vast, global city economy
Job growth of 800,000 between 1996
and 2008; possibly another 750,000 by
2031 – 5.45 million in total.
International centre of trade and
innovation
Resilient, diverse economy
Strong globally competitive position
London’s economy –
potential threats
Threats to competitiveness
Worklessness and skills
Responding to climate change
Quality of Life
London’s economy in
2062?
The honest answer: we don’t know…
Major drivers since 1962:
Globalisation and internationalisation
Shift to knowledge economy: financial and
business services; cultural and media; digital and
tech;
Hyper-diverse population
How many of these were anticipated?
Continuities:
knowledge
economy
Continuities –
global hub
Continuities –
importance of
infrastructure
London’s economy to 2062
(personal view)
From Knowledge City to ‘Smart City’;
infrastructure, skills, innovation
Continuing global hub – but change in
centre of gravity of global economy
Avoiding polarisation – both within the
city and in relation to other UK cities
Thank you