General Election 2015 Manifesto Proposals from the West London business community West London Business Manifesto 2015 Contents Introduction 3 Modernising the Infrastructure 4 Supporting the West London Economy 5 Skills, Research and Immigration 6 Housing 6 European Membership 7 2 West London Business Manifesto 2015 Views expressed in this manifesto reflect the opinions of the West London Business Board and consultations with WLB members. They also derive from previous policy positions, such as outlined in the West London Economic Development Strategy, various consultation responses and other papers relating to economic development, transport and regeneration. WLB will be pleased to provide additional information on request. Contact Frank Wingate, Chief Executive West London Business, on 0208 607 2500 or frank.wingate@westlondon.com March 2015 Introduction West London Business (WLB) is the Chamber of Commerce for West London. As the Chamber we directly represent over 800 businesses, including leading international corporates. We engage with over 7,000 businesses each year. We promote West London as an inward investment destination, introducing and retaining businesses. We also support business start-up, economic growth and job creation through a range of activities and communication channels. WLB also collaborates closely with the six boroughs of West London and has contributed to Transport, Tourism, Creative Industries and Innovation strategies for the area. On behalf of the business community of West London, WLB urges the next Government, whatever its political make-up, to adopt the policies outlined below, which are designed to stimulate business growth, job creation and overall prosperity and wellbeing. 3 West London Business Manifesto 2015 Modernising the Infrastructure WLB considers it vital for the ongoing success of the West London economy to complete or proceed urgently with the following projects: WLB urges the incoming Government to accept and act swiftly upon the decisions of the Davies Commission. Our limited hub airport capacity is damaging to business growth throughout the country and our international trading status. We would like the new Government to accept the option of the Heathrow third runway (this is purely private sector investment causing no expense to the public purse. Lost productivity during further delay is estimated at £600m per annum. Benefits would amount to around £1 bn per annum). This option is the optimum solution, both for West London and for the UK. The Crossrail project should be completed on schedule. This will bring development and investment benefits to West London. We also strongly support the adoption of Crossrail Two. (total benefits estimated at £36 bn). High speed rail HS2 – WLB supports hi-speed rail and favours a direct link into Heathrow. We believe this will bring added workforce mobility and investment advantages to London and the UK regions connected. The new Government needs to support the continuing investment and long-term finance commitment to upgrading the Underground. The Piccadilly Line in particular will benefit West London when upgraded. Also, the TfL’s Road Strategy Taskforce, dealing with specific bottlenecks, needs backing Sufficient long-term funding needs to be guaranteed to TfL to ensure this work is continued. We support the call for innovative funding ideas contained in the Mayor’s London Infrastructure Plan. For example, it is essential that land development taxes and road user charging options are fully explored and piloted as soon as possible. Also, more funding should be retained in London. At present the Mayor controls only 7% of revenue raised in London. In New York 50% is retained locally and in Tokyo 70%. 4 West London Business Manifesto 2015 Supporting the West London Economy West London (the seven boroughs – Barnet, Brent, Ealing, Hammersmith and Fulham, Harrow, Hillingdon and Hounslow) contributes some 20% of London’s GVA, to a value of around £37 bn. WLB urges the incoming Government to recognise and support this major contributor to London’s economic power, by strengthening the sub-regional economy. This will help reduce dependence on Central London, as well as the pressure on the public transport system from commuting and its negative environmental impact. Government should take the following measures as necessary to support the West London economy: Assist clustered manufacturing areas, such as the Park Royal Estate, with funding for better roads, broadband coverage and energy, which are currently insufficient. (The Mayoral Development Corporation offers a suitable vehicle). Safeguard land for employment/commercial use. At present land zoned for commercial development in West London is being lost to housing at an unacceptable level. As West London has very limited brown field supply this employment asset cannot be recovered. Government needs to keep an eye on the application of the Community Infrastructure Levy by the boroughs, as too heavy impositions will deter investment and development. Support and promote pro-business, pro-development planning procedures. Fund and develop coherent sub-regional inward investment and business support programmes. These encourage growth, entrepreneurship and job creation. In addition, encourage the development of industries in West London with strong growth potential – specifically, creative industries, tourism and leisure. 5 West London Business Manifesto 2015 Skills, Research and Immigration Support our universities and FE Colleges. West London’s are very active in business engagement (Brunel University London, University of West London, FE – Ealing, H&F College and Uxbridge College). There are considerable research and innovation skills and resources at universities and colleges which remain untapped. These need to be promoted more effectively to businesses, which are not sufficiently aware of this source of support. WLB firmly backs the idea that the Mayor should have control over London’s skills funding. The capital’s need are unique and require dedicated attention and budgeting. The UK’s evolving skills needs mean flexible immigration policies are vital. Government should abandon arbitrary immigration caps, and encourage, rather than inhibit foreign students studying and undertaking research here. Better to invest in more efficient UK border control resources. Enhance liaison between business and schools, promoting enterprise in school curricula. WLB urges the Government to maintain research and development funding at the current levels. Housing The lack of sufficient affordable housing in London is reaching crisis levels. Rising prices are seriously affecting the competitiveness of businesses here and damaging growth. More powers should be given to the Mayor to promote and support house building Government needs to boost house building by enabling boroughs to borrow more to invest in construction. Planning processes need to be further streamlined and made less complex and expensive and all appropriate land for residential identified and made available. 6 West London Business Manifesto 2015 European Membership The EU needs reform, particularly to make it more competitive in areas such as services. However, active membership is necessary to achieve meaningful reform. Continuing membership of the European Union is critical for the ongoing success of London business. The majority of our trade is with the EU. One hundred of the top largest companies in the world have their HQs in London because it is an effective base to trade with Europe. International businesses use London and the UK as a jumping off point to access European markets. www.westlondon.com 7