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Response to Chancellor Rishi Sunak’s Winter Economy Plan

Responding to Chancellor Rishi Sunak’s Winter Economy Plan, Richard Brown, Deputy Director, Centre for London said:

“Coronavirus has shone a light on London’s two track economy. While many professional workers have been able to switch to home working, the capital’s hospitality, retail and cultural sectors are struggling, particularly in the city centre. These are the services that bring London to life, and also the industries that employ many younger and lower waged Londoners. The capital has already seen some of the country’s sharpest rises in unemployment, and the steepest declines in new jobs being advertised, so the problem is urgent.

“The Chancellor’s package of support measures is therefore welcome, and will be a lifeline to many London businesses, but may not be enough to make up for the precipitous fall in demand that some have experienced. More support, targeted at the sectors that are struggling most, is needed – not to sustain zombie jobs, but to allow the city to be re-animated once the crisis abates – alongside training programmes that will help all Londoners to access the jobs of the future.”

ENDS

Notes to Editors

  • Centre for London is the capital’s dedicated think tank. The Centre develops new solutions to London’s critical challenges and advocates for a fair and prosperous global city.