Member Article

Hostility towards immigrants threatens London's status

Nationwide hostility to immigrants and the EU threatens London’s status as one of the world’s leading cities for business development, according to a new report by London First.

The report, which was commissioned for London’s mayor, Boris Johnson, will be published later this week and The Financial Times has published a preview.

The report is expected to be the first comprehensive jobs and growth plan for the capital

International competitors including Chicago, New York, Rio de Janeiro and Hong Kong already have similar growth plans in place.

London has foreign subsidiaries of 145 international companies, the highest number in the world.

The report stated that the UK capital must work to build up its relationships with emerging markets, including more promotion to attract tourists, investment and students.

In addition, the UK airport problems and visa system need to be improved.

The report says: “National public opinion and hence UK government policy could put pressure on some of the critical underpinnings of London’s [leading position], in particular its openness to immigration and its relationship with the European Union.”

Harvey McGrath, deputy chairman of the mayor’s London Enterprise Panel, said the city “needs to manage the pressures that come with success, particularly around quality of life and cost of living, that could otherwise threaten London’s attractiveness to investors, talented individuals and even to Londoners themselves”.

This was posted in Bdaily's Members' News section by Ellen Forster .