The Tory triple threat to the City of London

city of london

Anti-EU and anti-immigrant rhetoric will hurt Britain, concludes a new report commissioned by Mayor of London, Boris Johnson.

Talented workers and entrepreneurs are being put off coming to a country which increasingly appears to view them with hostility, while crackdowns on foreign students are hurting our institutions and finances, and a chronic lack of affordable housing is stifling city growth, says the report, which was produced by London First and the London Enterprise Panel.

London has already established a unique position as the global hub for talent, business, finance and global visitors, however this could be put at risk by national policy on both immigration and Europe,” said the report, adding that the city “has an opportunity to establish itself as a global capital for technology, creativity and entrepreneurship.”

But to gain maximum economic benefit it needs to address the gaps in skills and funding that make it challenging for businesses to grow,” it said.

Better access to post-study visas, stronger relationships with China to attract top talent, fast-tracked systems for high-growth firms to recruit the best overseas workers and a more welcoming attitude were all cited as important priorities to safeguard London’s future.

Meanwhile, the number of homes being built in London should be increased to over 50,000 to prevent both UK and foreign workers from being priced out of the market, it said.