2008 Manifesto: Backing London Business

Making it easier for businesses to work with the GLA group

"I will make it easier for businesses to do business with the GLA group, the London 2012 Organising Committee and Olympic Delivery Authority."

2008 Manifesto, Backing London Business, pg 5

Mayor Boris Johnson’s team has made it easier for businesses to work with the GLA group by championing initiatives such as the Compete For website started in 2007 (link). The Compete For site allows businesses to bid for City Hall contracts and makes the procurement process more accessible for firms of all sizes. 155,000 businesses are registered and there are 10,500 contract opportunities, 8,574 of which have been awarded by 8March 2012. Further, over 74 per cent of contracts have been awarded to SMEs and 37 per cent of the contracts have been awarded to London businesses (link). Over £270 million worth of Games-related contracts have already been won by suppliers through the Compete For scheme (link). In order to help the cash flow of small and medium-sized enterprises, the GLA group now has a prompt payment policy with an average of 86.8 per cent of all valid invoices from SMEs paid within 10 working days (link).

Ensuring London’s businesses and communities are getting the support they need

"I will review the London Development Agency’s (LDA) enterprise activity to ensure that London’s businesses and communities are getting the support they need."

2008 Manifesto, Backing London Business, pg 5

As Mayor, Boris Johnson has delivered targeted investment through regular dialogue with business. At the very beginning of the recession Boris developed an Economic Recovery Action Plan. This has helped London’s businesses to deal with the impact of long-term economic problems and short-term events such as the riots.

To tackle the LDA’s enterprise activity, in Boris Johnson’s first week as Mayor he formed a Forensic Audit Panel to examine the activities of the LDA and suggest reform of the body (link). This led to changes at the top and efficiencies being made to the tune of £445,000 a year (link). As a result of this scrutiny, Boris decided to abolish the wasteful LDA in order to cut bureaucracy and its functions has been brought into the Mayor’s office, leading to greater accountability (link).

Additionally, Boris has provided £50m for regeneration projects in town centres affected by the summer riots, with the Government providing £20m especially for the areas of Tottenham and Croydon. Proposals for a further £40m from the Outer London Fund are underway (link).

Holding business summits

"I will hold biannual summits with representatives from across London’s business communities."

2008 Manifesto, Backing London Business, pg 5

Mayor Boris Johnson has held quarterly meetings of the London Business Advisory Council, alongside annual meetings of the International Business Advisory Council. As part of Boris’s 24 public meetings with Londoners he has held 5 Business Question Times (link). Boris has also been able to negotiate good deals for Londoners such as securing private sponsorship for the cycle hire scheme and cycle superhighways (link).

Listening to the results of consultations

"I will listen to the results of consultations."

2008 Manifesto, Backing London Business, pg 5

Mayor Boris Johnson pledged that he would listen to Londoners and he has done just that. The decision to remove the Western Extension of the Congestion Charging zone took effect on 4 January 2011 (link). Because he listened to Londoners, Boris subsequently scrapped the scheme as requested by 62 per cent of those who responded to the consultation (link). Another example is a Transport for London consultation on a traffic signal site in Croydon. Based on the feedback by Londoners, the decision has been made on 24 February 2012 to remove these signals (link). In contrast, Ken Livingstone imposed the WEZ.