BusinessLDN

“This Budget featured a mixed bag of tricks and treats for the capital’s businesses, offering the promise of higher investment but with firms having to shoulder most of the short-term pain on tax. “Confirmation that HS2 will go to Euston, changes to the fiscal rules to boost infrastructure spending and her focus on housing are particularly welcome. “But a hike in employer national insurance contributions will be difficult for many firms to absorb on top of an above-inflation rise in the minimum wage. This may force employers to think again about hiring at a time when London’s labour market is stalling and unemployment in the capital is at a three-year high. "The Chancellor also missed an opportunity to boost growth by not scrapping the tourist tax, leaving the UK at a disadvantage when it comes to attracting high-spending international visitors. “As the UK’s most productive region, which generates a significant tax surplus that supports public services across the country, London has a critical role in delivering the Government’s growth mission. “The OBR’s lacklustre growth forecasts show much more will need to be done to get the economy out of first gear and unlock London’s full potential. "That’s why next year’s spending review must continue to prioritise investment including through a longer-term funding deal for Transport for London, putting the capital’s devolution deal on a par with other trailblazer regions, and providing further public investment to address the city’s housing crisis which is collectively costing its councils £4 million every day.” Our Muniya Barua on today's Budget speech: https://lnkd.in/d5_FG7GY 

"The size of the prize for getting this right is huge... both for London and the UK. "Economic analysis carried out for the London Borough of Camden found that the regeneration of Euston station could contribute £41 billion to the UK economy by 2053, create 34,000 new jobs, and provide the opportunity to build 2,500 new homes. "A new Euston Quarter could deliver millions of square feet of space dedicated to science, innovation, culture, and commercial activity as well as a significant amount of new homes and job opportunities..." In the last post in our blog series looking ahead to tomorrow's Budget, our John Dickie explains how - with the right design and delivery vehicle - a regenerated HS2 Euston station can drive growth across the capital and beyond. Read in full 🚆⬇ https://lnkd.in/dXZmjGr8

"This Budget is as much about laying out the future course of the economy to a watching domestic and international business and investor audience, as it is about the finances of the here and now. "Investors, and by default, large scale housing and infrastructure projects want reassurance that their investment will be supported by a receptive fiscal, policy and regulatory environment..." Writing as part of our Budget blog post series, Rebekah Paczek of the The Earls Court Development Company explains how the Chancellor can put housing delivery at the heart of the Government's growth mission whilst managing stretched public finances ⬇ https://lnkd.in/ejH6GCbF

"Brits can now shop tax-free in Europe - but international visitors coming to London no longer have access to the same benefit. This has turned into a clear disadvantage for British retailers right across the country. "The impact of this policy is not just theoretical. A survey conducted last year among our 600 members - including retail, hospitality, and leisure businesses - revealed that the absence of tax-free shopping has affected more West End businesses than inflation or the cost-of-living crisis..." Continuing our blog post series looking ahead to this week's Budget, Dee Corsi of the New West End Company outlines why scrapping the tourist tax is a must for growth across London and the UK ⬇ https://lnkd.in/e2aHdQFn

"We are in danger of being distracted by conversations about a myriad of other factors that may impact on housing delivery, but at the core of the issue is viability, the costs of home ownership and funding..." Continuing our blog post series looking ahead to next week's Budget, John Mulryan of Ballymore discusses the need for support with development costs, targeted tax incentives and regulatory reform to enable housing delivery and protect London's place as a leading investment destination. Read in full ⬇ https://lnkd.in/emTbVcgv

Huge thanks to Richard Lampert of Eversheds Sutherland for hosting the latest event in our Borough Leader series with Cllr Kieron Williams this morning. Kieron was clear about the need for organisations across the public and private sectors - including developers, universities and local authorities - to work together to address London's pressing housing, poverty and investment challenges. He stressed the importance of stability in driving investment - calling for next week's Budget to put long-term policy certainty front and centre, including through establishing a multi-year capital funding settlement for Transport for London as a driver of UK-wide growth. Wider discussion covered the need to deliver long-held plans to extend the Bakerloo line, what the future holds for innovative infrastructure financing models and addressing the costs of delivering sustainable developments. Questions and comments from the floor highlighted the need to simplify the Greater London Authority's London Plan as part of its current review, increase the speed with which S106 and CIL funding is allocated, and address capacity shortages across local authority planning teams as well as regulatory bodies. Thanks for your contributions Justin Tibaldi Jenevieve Treadwell Simon Jeffery Kate Fairhurst Toby Varian Geoff Symonds Tim Wickson Miles Price Patrick Clark William Slatter

Next up in our blog post series profiling Budget measures that will spur growth ahead of Rt Hon Rachel Reeves' statement next week, Graham Clemett, CEO of Workspace Group, on steps needed to help the UK's millions of SMEs to invest, innovate and hire. From R&D incentives, to business rates reform, to improved support for apprenticeships, Graham details a range of interventions which, if taken forward, would collectively have a huge impact. Read in full ⬇ https://lnkd.in/ebaTdhRj

🌟 Unlocking Inclusive Leadership: Join Us for Our Preview Event! 🌟 At Journi, we believe that fostering equity, diversity, and inclusion in leadership isn’t just a goal — it’s a necessity for thriving, innovative businesses. That’s why we’re thrilled to invite you to our Preview Event: Unlocking Inclusive Leadership on 7 November! This event will explore the practical steps leaders can take to create lasting change within their organisations. Join us to learn how inclusive leadership can drive innovation, enhance workplace culture, and help you attract and retain top talent. 🚀 What to Expect: Join a dynamic panel of industry experts, including BusinessLDN's Muniya Barua, our very own Sharla-Jaye Duncan, Richard DeNetto, Dean Aston, and Adel Johnson, as we dive into critical topics like: → Why Ethnicity Pay Gap Reporting is essential now → How diversity drives business success → Overcoming career progression barriers for underrepresented groups → Using data to drive real EDI change → Embedding inclusion into your workplace culture Event Details:  🗓️ Date: 7 November ⏰ Time: 16:00 GMT 📍 Location: Online We encourage you to bring a colleague to increase learning and maximise the impact of the event! 🔗 RSVP now: https://lnkd.in/e2G899DD Don’t miss this opportunity to be part of the journey toward inclusive leadership! #InclusiveLeadership #DiversityAndInclusion #EquityInTheWorkplace #LeadershipDevelopment #HR #EDI #BusinessLDN #Journi

With the Chancellor Rt Hon Rachel Reeves' first Budget less than two weeks away, we're launching a new blog post series profiling measures that would be good for London and the whole UK. First up is Alexander Jan on why granting the capital a "trailblazer" devolution deal, in-line with those already agreed with Greater Manchester and the West Midlands, would be good for local decision-making and country-wide growth. His piece follows release of our "New Deal for London" report, published alongside Primera, the Central District Alliance, London Heritage Quarter and EC BID ➡ https://lnkd.in/e_tXUMAb

The London Local Skills Improvement Plan (LSIP) sets a blueprint for tackling skills gaps across the capital by bringing together employers, educators and other key stakeholders to match training supply with employer demand. Originally published last year, the LSIP – delivery of which is led by BusinessLDN alongside Central London Forward, South London Partnership, Local London West London Alliance and West London Business, and in partnership with FSB Westminster (Federation of Small Businesses), London Chamber of Commerce and Industry and CBI London – is already starting to have an impact. 📽 Watch our new film about the project to hear from 📽 Katie Wyle of Unibail-Rodamco-Westfield West London Retail Skills Hub on how the LSIP supports wide-ranging partnerships. Cara Hodgkins of Build The Way C.I.C on bridging the gap to opportunities in architecture for those with limited exposure to the industry, helping to improve diversity in the sector. Suna Marfé of South Thames College, Tracy Aust of West Thames College and Craig Hurring FRSA of Love Wimbledon Business Improvement District on the LSIP's role in helping training providers to meet business needs. Elizabeth Howard of Quantum Group on rethinking training programmes to suit the requirements of different learners. Adrian Gabriel-Lovell of Department for Work and Pensions (DWP) on supporting those who have spent time out of the workforce to find new opportunities. And Rikshita Khela of Vorboss on engaging with the LSIP to "shape the future of our workforce". To read our latest progress report, or to find out how you could get involved, visit: www.businessldn.co.uk/lsip.