Tuesday 24 September 2024

Karim Fatehi MBE, Chief Executive of the London Chamber of Commerce and Industry said: 

“The Prime Minister has laid out an encouraging vision for the future of London businesses this afternoon. However, it is essential that the Government now delivers on its promise to work closely with the business community to turn this vision into a reality.

“While we are encouraged by the new growth and skills levy, which will replace the existing apprenticeship levy and include new foundation apprenticeships, we remain concerned about the ongoing challenges around skills and migration. Our members are facing significant shortages of talent in the workforce, and urgent action is needed to address this critical skills gap. London businesses require clear assurances that steps will be taken not only to enhance the training of domestic workers, but also to maintain access to the world-class international talent which helps enable our capital to thrive. We look forward to The Department for Education setting out further details on the scope of the new growth and skills levy shortly.

“In the coming months, we urge the Government to swiftly introduce policies to reform the outdated and unfair business rates system, alongside a resetting of key traditional relationships with partners in the EU, US and emerging markets.

“With the right support, London's businesses can continue to prosper, but it is essential that these issues are addressed quickly to ensure a strong and competitive future for our capital.”