London's long term employment problems need to be at the top of Boris Johnson's agenda
Author: Adam MarshallDate: 17/10/2008
Publication: Evening Standard
It's true that capital infrastructure projects such as Crossrail and the Thames Tideway Tunnel can deliver short-term jobs and long-term economic benefits to London (15 October).
We need to be realistic, however, about the funding available for these projects. Public finances have been tightening for years, and the bank bail-out means additional pressure and little room to manoeuvre. It makes sense to spend limited capital funding on projects that add most to London's economic bottom line: Crossrail and the Tube upgrade.
As a result of the financial crisis, London will see some job losses in the short term. But the capital's diverse economy should come out of the recession in a stronger position than the rest of the country.
Instead of fixating on capital projects, the Mayor needs to focus more on the capital's long-term employment problems. Even during the boom years, around 30 per cent of London's residents were not in employment. Training and back-to-work support need to be at the top of Boris Johnson's agenda.
Dr Adam Marshall, Head of Policy, Centre for Cities.
A version of this letter first appeared in the Evening Standard
