Chair's message
Susan Taylor Martin, President, Global Investment Focus Accounts, Thomson Reuters and CBI London chair
I am delighted to have taken over as Chairman of the CBI London Council from 1 January. It’s at a significant time for London businesses as their confidence has taken a significant knock since last summer. The December CBI/KPMG London Business Survey showed that only 13% of London businesses feel more optimistic about prospects for the economy over the next six months, compared with 43% in June, and optimism about their own business prospects has fallen from 51% to 31% over the same period. The biggest concern is the threat of a double-dip recession, unsurprising given the on-going Euro crisis.
Although the survey also shows that firms continue to rate the capital as a good place to do business thanks to the strong skills base and access to global markets, there is no room for complacency, as London also has a number of key weaknesses such as the high operating costs, the tax environment and transport.
Against this backdrop, we now need the Government to power ahead with its autumn statement plans to help businesses grow and create jobs.
Throughout the year, CBI London will continue to focus on creating the right conditions to enable businesses to grow in these difficult times. It will hold the government’s feet to the fire on economic growth. It will work closely with the mayor to maintain and strengthen London's status as a world city. It will be lobbying on the key issues to ensure that London remains the destination of choice for world-class companies.
We have a unique opportunity to showcase the best London has to offer this year as we build up to the biggest event London has ever hosted - the 2012 Olympics and Paralympics. The Games offer huge opportunities for business and an overwhelming 92% of London businesses think the Games will benefit London internationally. The CBI continue to help members prepare for the greatest show in town and will be looking forward to a programme of activity which helps network and showcase UK business during the Games.