Boris unveils plan to shape City's future

MAYOR Boris Johnson yesterday reiterated his desire to be a &ldquo;champion for London&rdquo; as he unveiled a definitive strategy to improve the capital and promote the City&rsquo;s competitiveness as a global economic powerhouse.<br /><br />Johnson&rsquo;s three-pronged strategy includes interlinked documents on the capital&rsquo;s overall strategic development, transport and economic development.<br /><br />He said he was &ldquo;determined to make London the world&rsquo;s most attractive proposition for businesses, students and visitors&rdquo;.<br /><br />The Mayor&rsquo;s economic development dossier warned that some of London&rsquo;s advantages as a highly attractive business environment are being eroded by plans for public finance constraints and by higher taxation, which he said would &ldquo;deter internationally mobile talent&rdquo; from working in the city.<br /><br />&ldquo;Clear and predictable tax and regulatory regimes are necessary if London is to maintain its leading position in financial services,&rdquo; he said. <br /><br />&ldquo;The UK&rsquo;s previous position of relative strength in terms of tax burden is rapidly deteriorating... London&rsquo;s businesses can only thrive if the City remains competitive &ndash; nationally and globally. However, improvement is needed if we are to stay ahead of the competition.&rdquo;<br /><br />Johnson singled out the Labour government&rsquo;s plans for a new 50p top rate of income tax as a particular problem to be tackled. The Mayor has been an outspoken adversary of the policy, in contrast to a mixed message from other senior figures in the Conservative party.<br /><br />He also vowed to drive London&rsquo;s transition to a low-carbon economy, maximise investment to support growth and regeneration and promote more effective education and training.<br /><br />The three documents are all now open to public consultation.