LCCI respond to GLA London Economic Outlook report

Tuesday 25 May 2021

Reacting to the latest GLA London Economic Outlook reportRichard Burge, Chief Executive of London Chamber of Commerce and Industry, said:

“The GLA London Economic Outlook report is further evidence that London’s job market will take some time to recover to pre-pandemic levels. 

In the meantime we will see a large amount of people in London needing support whilst they are out of work, and requiring appropriate skills provision to help them find employment.

“That is why London Chamber of Commerce and Industry has worked with its membership to produce a six-point plan about tackling the capital’s employment and skills challenge, focussing on key issues that need addressing, right across the age ranges. 

“The GLA forecast also rightly notes the direct losses to London from reduced tourism and trade, and the challenging context for recovering that before vaccinations are complete globally.

“However, once the UK reaches the point of vaccination rollout that allows for further economic unlocking, including more options for international travel, there is an opportunity to restore international confidence in the UK and London and our respective COVID-19 systems.  That will require the Government joining the Mayor in putting full weight behind the nation’s capital and the role its global economy plays in fuelling UK prosperity.

“The report also rightly highlights the ongoing uncertainty regarding trade of services between the EU and the UK, as well as trade of goods friction.  As we work toward a new trading relationship, these issues need addressing in order to further aid London and the UK’s recovery from COVID-19.”   

LCCI's ‘Recovering employment and skills in London’ report is available here, with related press release here.