CBI insists London must invest in infrastructure to stay competitive

23 October 2015  •  Author(s): Katie Sadler, Digital Content Producer, Eurotransport

The Confederation of British Industry (CBI) has emphasised the importance of investing in the right infrastructure and skills to continue London’s success as a global competitive city.

CBI insists London must invest in infrastructure to stay competitive

CBI President Paul Drechsler CBE

Speaking today at the CBI’s Autumn Lunch, attended by the Lord Mayor of London, CBI President Paul Drechsler CBE will tell guests that London’s future success depends on the capital having the right infrastructure in place, providing skills fit for the twenty-first century and getting devolution right. According to the CBI, investment – from housing to transport – is the number one priority for businesses ahead of next year’s Mayoral election.

CBI emphasises the importance of infrastructure, skills and getting devolution right

Paul Drechsler CBE, CBI President, said: “London is a global city with a magnetic force, attracting the brightest and the best from all over the world. But staying ahead of the competition starts right here at home – on London’s streets and in London’s schools.

“We need to make sure that our pupils get the right skills, behaviours and experiences for the world of work. Then, when they’re ready to start their first day at work, they’ll need a city where they can afford to live. And with the city growing by two buses a day, there needs to be a transport system which works for them.

“London’s success as a global city rests on using the skills and expertise found all over the United Kingdom, through supply chains. The reality is that – often – when London grows, the regions prosper. Business must be active partners in plans for greater devolution, including on issues like planning and skills, to give them the confidence to invest and drive growth.”

“Skills and infrastructure are crucial to London’s long-term success”

The Rt. Hon. the Lord Mayor of London, Alderman Alan Yarrow, added: “Skills and infrastructure are crucial to London’s long-term success. That’s why the City of London Corporation sponsors three academies, to ensure our young people get the education they need to get ahead. 

“And it’s why I travel the world building relationships with overseas investors to ensure that London gets the investment it needs. Just this week, President Xi Jinping of China was at the Mansion House to sign £30bn of trade agreements to invest in vital UK infrastructure. This is exactly the sort of partnership we need to be forming if we are to maintain our place in the global race.”

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