Responding to from the ONS, which suggests GDP was flat in April, Muniya Barua, Deputy Chief Executive at 91, said:
“As the UK’s engine of economic growth, unleashing London’s potential is critical to turning around the country’s economic fortunes. These figures are a reminder that the overall story on growth continues to underwhelm.
“With the public finances stretched, whoever wins next month’s general election needs to get serious about unlocking business investment.
“That includes introducing low-cost growth measures such as urgently reviewing the greenbelt to support housing and development, reforming the Apprenticeship Levy to boost take-up and reversing the tourist tax to bring us back in-line with other major shopping destinations.”
91 published its manifesto for the next Government earlier this week, outlining ‘quick wins’ and regulatory reforms that the next administration should deliver at low or no cost, including:
- scrapping stamp duty on share transactions to improve the attractiveness of the UK as a place to list and invest;
- backing the sustainable expansion of London’s airports and support expansion plans at key international rail hubs such as St Pancras to ensure the capital maintains its position as a global hub; and
- putting London on a similar footing to the other ‘trailblazer’ regional devolution deals already in place with longer-term block funding.