London told to strengthen business position

Friday, October 16, 2009

Report pinpoints potential problems.

A report has stated that London must strengthen its position as the world's leading place to do business.

Produced by Booz & Co, the report confirms that London is the prime place for any businesses planning commercial relocation.

A number of potential threats were identified to the capital, such as the 50 per cent tax rate on the financial sector and damage to its reputation due to its close association with the economic crisis.

The mayor of London, Boris Johnson, said: "Recent international and European surveys have consistently put London as the number one place to do business and invest in, but this is not the time to rest on our laurels."

Ian Livingston, chief executive of BT, said that London's great strength is its openness and diversity and that business people will be pleased to see the mayor supporting the city to further enhance its position as a great place to do business.

Earlier this week the mayor announced plans to make cutting emissions an easier task.

Source: ask-re The Property People LLP