Mayor of London Boris Johnson announced today that he and his team are developing an Economic Recovery Action Plan designed to support Londoners and businesses through the predicted economic hardship ahead. Over the past few weeks, as the effects of the economic downturn have unfolded and concerns for the economy have grown, the Mayor and his Policy Director Anthony Browne have been consulting extensively with a range of business groups, small companies, finance houses and leading multinationals on measures that will help support the economy and Londoners, as well as preparing the capital for future economic upturn. The Mayor has already confirmed several steps he is taking to support London, which include: Refocusing the London Development Agency’s £400m budget towards promoting jobs, skills and economic growth; Investing £600m in training to give Londoners the skills they need to find and stay in work; Pushing ahead with over 50 major infrastructure projects, such as upgrades to the tube and Crossrail, to ensure that London remains globally competitive.

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27 October 2008
© Mayor of London