Sadiq Khan hosts crunch business talks with City figures
Sadiq Khan has warned London’s businesses are facing “the most difficult period in living memory” as a result of Brexit, the Covid-19 pandemic and the inflation crisis.
The Mayor of London has called for the government to devolve some immigration powers to City Hall as a means of tackling regional labour shortages sparked by the triple quandaries.
Writing in CityA.M. Khan said: “A combination of Brexit, Covid and inflation has given rise to the most difficult period for our business community in living memory.
“Meanwhile, the climate emergency and technological revolution mean wholesale reform may be needed in virtually every sector of our economy.
“I maintain the view the UK should strive for closer trade and economic alignment with our European neighbours… I would like the government to devolve some immigration powers to City Hall.”
Breakfast at KPMG
It comes as Khan meets with key business leaders this morning (Tuesday) at a breakfast roundtable summit hosted at the KPMG London headquarters in Canary Wharf.
Representatives from WSP, NatWest, DLA Piper, Heal’s, Canary Wharf Group and KPMG are expected to attend.
Discussions will focus on access to talent; skills shortages; post-Brexit competitiveness; investment opportunities; and London’s global appeal and support for the UK’s prosperity.
The summit comes as Labour’s business charm offensive continues, with Sir Keir Starmer and shadow chancellor Rachel Reeves touting ‘prawn cocktail 2.0’ around the Square Mile.
Khan: ‘On your side’
On Brexit, despite insisting the capital would not let “our crown slip”, Khan said: “The number of businesses experiencing at least one skills shortage has now risen to almost seven in ten.
“Plugging the holes left by our departure from the EU has been felt acutely in certain sectors.”
“Allowing us to create a regional shortage occupation list in partnership with business would give London the ability to attract and retain talent in the sectors which need it most.”
He added: “My promise is City Hall will continue to be on your side, not in your way. I intend to use every lever at my disposal to ensure London remains the number one city to invest.”
The Home Office has been approached for comment.