Letter to Evening Standard: Unaffordable housing damages London’s competitiveness

[REF: Housing Crisis is threat to London’s industry, Evening Standard, April 06 2016]

London’s competiveness is hinged on its ability to attract and retain a workforce with a broad range of skills. That is what makes our economy a global success and a hub for innovation.

Many City businesses feel that unaffordable housing is damaging London’s competitiveness as a place to locate.

London’s housing problem must be seriously addressed by removing supply-side constraints to ensure that the best international talent want to come here. That’s why the City Corporation has committed to building 3,700 new homes across London by 2025.

Tying this in with more devolution to London will give local government the opportunity to address this pressing problem in a joined-up way, and remove one of the major constraints to London’s growth.

Mark Boleat
Chairman of the Policy & Resources Committee
City of London Corporation, EC2V 7HH