Good infrastructure not only benefits London businesses choosing to locate here and to invest here, but also creates employment in other parts of the UK.
When London sees a reduction in infrastructure investment, other parts of the UK suffer the consequences too. Because of this, the London Assembly is today calling for more Government investment to support major infrastructure in London.
This includes longer term funding for Transport for London (TfL), further devolution to London, and a commitment that Levelling Up the rest of the UK is not at the expense of investment in London’s infrastructure.
Sakina Sheikh AM, who proposed the motion, said:
“As a global leading city, London must have the infrastructure that enables all Londoners to thrive.
“We only need look at the Elizabeth Line to see how good infrastructure can have a transformative effect on the lives of Londoners.
“The Government needs to ensure that London has the tools, and the support, to be able to maintain our existing infrastructure, as well as build new infrastructure to keep London the best place to live.
“New infrastructure unlocks economic growth and housebuilding; and I am pleased to see the Assembly support our motion calling for further infrastructure investment.”
The full text of the motion is:
This Assembly notes the importance of infrastructure for London’s economy and quality of life.
Good infrastructure not only benefits London businesses choosing to locate here, choosing to invest here, choosing to create jobs in the capital, but this investment also creates employment in other parts of the UK. This Assembly does not believe the Government’s Levelling Up policy should be of detriment to London. When London sees a reduction in investment in infrastructure, other parts of the UK suffer the consequences too. When London’s economy thrives, so does the UK economy.
This Assembly notes the cross-party House of Commons Levelling Up, Housing and Communities Committee’s findings that levelling up is failing to address regional economic inequality because funding was only for short-term initiatives, and there is a lack of transparency with allocations of funding.
This Assembly agrees with Sir John Armitt of the National Infrastructure Commission that there should be further devolution of funding from central Government to devolved authorities. This would enable a consistency and certainty of financial support and allow for longer-term infrastructure planning. This includes moving away from short-term emergency settlements for Transport for London (TfL) to a more stable settlement that allows longer-term planning.
This Assembly calls for more Government investment to support major infrastructure. This includes:
- longer term funding of TfL and a reinstatement of the £700 million annual operating grant removed by Boris Johnson when Mayor in 2015;
- further devolution to London, including money raising powers;
- a commitment that Levelling Up the rest of the UK is in addition to supporting London’s economy and not at the expense of investment in London’s infrastructure.