Tuesday 28 February 2017 12:01 am

The capital needs Crossrail 2 and Heathrow expansion to continue to compete globally, say London businesses

Crossrail 2, Heathrow's third runway and East London river crossings will all be crucial to the capital's continued ability to compete on the global stage, London businesses have said.

According to the latest CBI/CBRE London business survey, 84 per cent of firms in the capital see Crossrail 2 as being central to the city's successful expansion, while 80 per cent think sticking to the government's current timetable for building Heathrow's third runway is vital to London's attractiveness as a place to invest.

But despite the significant political uncertainty seen in 2016, businesses' optimism has bounced back since the CBI's last survey, conducted just after the EU referendum in June.

A fifth of the 183 firms surveyed felt more positive about the economy over the next six months, compared to four per cent in the last survey. Businesses were also more optimistic about their own businesses over the next half year, with over a quarter feeling positive, compared to eight per cent last time round.

Eddie Curzon, CBI London director, said:

As one of the world's few truly global cities, London’s star continues to dazzle at the start of 2017.

The capital’s businesses want to keep it that way, and recognise the importance of driving the city’s infrastructure forward to do so. By ploughing ahead with Crossrail 2, a new runway at Heathrow and making better use of the River Thames, London can keep ahead of the curve, and make the city an even more attractive place in which to invest, live and work for decades to come.

While the uncertainty about the UK’s future relationship with Europe is weighing on minds in the City, it’s good to see firms beginning to bounce back from the Brexit effect, and having a more positive view of the economy than immediately after the vote to leave the EU.