London has enjoyed an extraordinary period of growth in the past generation, symbolized by the towers of Canary Wharf built on the skeleton of the old docks. Finance was at the heart of this, so how can London’s economy be reinvented after the financial crisis? Success will depend on several factors that must go together: growing service sectors in addition to finance; making it possible for the people who work in London to live there in pleasant and affordable surroundings; and investing in communications and transport links. This must include an early decision on airport investment to improve global links, given that the capital’s main airport is full to capacity – where the extra capacity is located is less important than starting work on expansion as soon as possible.
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Bridget Rosewell is senior partner of Volterra Partners, which she founded in 1998 with Paul Ormerod. She also serves as a non-executive director of the Ulster Bank and Network Rail. Bridget was the Chief Economist and Chief Economic Adviser to the Greater London Authority between 2002 and 2012.
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