London needs the right infrastructure and skills in place to remain competitive on a global stage, leading City figures are expected to say this afternoon.
Speaking at Confederation of British Industry's annual autumn lunch, the Lord Mayor of London, Alderman Alan Yarrow, will say that skills and infrastructure are crucial to London’s long-term success.
“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,” he will say. “This is exactly the sort of partnership we need to be forming if we are to maintain our place in the global race.”
CBI President Paul Drechsler will affirm that infrastructure is the top priority for businesses. “The reality is that – often – when London grows, the regions prosper,” he will say.
But finding labour for infrastructure projects in the capital and across the country could be a problem. The Royal Institution of Chartered Surveyors (RICS) yesterday claimed the UK's construction industry is facing its greatest skills shortage in almost 20 years.