London’s City Plan 2040

The London Chamber of Commerce and Industry (LCCI) has responded to the City of London Corporation’s City Plan 2040 consultation, emphasizing the need for measures to assist SMEs and enhance transport links between South East London and the Square Mile.

Overview of City Plan 2040:

The City Plan 2040 outlines the development strategy for the Square Mile, establishing priorities for future planning decisions up to 2040. Key elements include:

• Affordable Housing: Proposals to deliver affordable housing while protecting the City’s heritage.
• 5G Expansion and Net Zero Objectives: Strong commitments to 5G infrastructure and achieving net zero emissions.
• Tourism and Trade: Strategies to drive tourism and trade within the City.

LCCI’s Response:

Support for Existing Measures:

• Affordable Housing: LCCI appreciates the detailed proposals for affordable housing.
• Net Zero and 5G Expansion: The Chamber welcomes commitments to net zero objectives and the expansion of 5G, both of which are essential for future growth and sustainability.

Recommendations for Improvement:

Business Incubation Centres:

• Need for Incubation Space: LCCI highlighted the lack of provisions for business incubation centres in the current Plan.
• Support for SMEs: Incubation centres are vital for fostering new businesses and ensuring a diverse and sustainable business environment in the Square Mile.
• Innovation Hub: The inclusion of incubation spaces would help maintain the City’s status as a hub of innovation.

Transport Links:

• Connectivity to South East London: LCCI noted the importance of improving transport links from South East London to the City.
• Service Sector and Hospitality Workers: Many workers in these sectors live in South East London, making efficient transport links crucial.
• Proposed Solutions: The response suggests planning for dedicated bus and taxi lanes to ensure swift and reliable travel for workers.

Alderman Prem Goyal, Chair of LCCI’s City of London Chamber of Commerce, stressed the importance of the Square Mile in shaping London’s global status. He praised the Plan’s strong measures on net zero, 5G expansion, and affordable housing, which will benefit both businesses and the broader community. Goyal also emphasized the need for further measures to support SMEs and improve transport links to ensure the City’s resilience and future growth.

Conclusion:

The LCCI looks forward to continued collaboration with the City of London Corporation, advocating for additional provisions in the City Plan 2040 that reflect the needs of SMEs and enhance connectivity. The Chamber aims to help build a resilient and forward-focused Square Mile that benefits all of London.