The Evening Standard’s report revealing the new economic divide in London (31st January ‘East London hardest hit by job cuts’) serves as a timely reminder of the importance of continued support for residents and businesses in east London.
Your report highlighted a disproportionate rise in the unemployment claimant count in East London, both north and south of the river, when compared to the rest of the capital. This demonstrates how crucial it is that there is a balanced economy right across the capital and that areas within the London Thames Gateway do not become ‘forgotten boroughs’ as the Government moves to drive private sector growth and insulate against public sector job losses.
There is real concern that measures to promote growth do not take into account the diverse range of economic circumstances experienced across the London Thames Gateway. For example, London and the South East has been left out of a measure which will see employers given a ‘holiday’ from National Insurance Contributions in order to offset the loss of public sector jobs. This is despite the fact that up to a third of jobs in some areas of the London Thames Gateway are in the public sector – a figure significantly higher than the national average.
Since Michael Heseltine first recognised the enormous potential of the Thames Gateway, we have experienced significant regeneration and become a major centre for retail and finance as well as hosts to the Olympic Games in 2012. But the job is not yet done, and high deprivation levels and growing unemployment demonstrate why East London must remain at the front and centre of initiatives to promote growth.
It is vital the UK has a balanced economy with funding and opportunities for growth in all areas of the country, but it is also vital that London continues to create the wealth that helps support the rest of the country. That is why East London cannot be left alone to tackle these challenging economic circumstances.
Signed
Cllr Michael White – Leader, London Borough of Havering (Conservative) and Vice Chair, Thames Gateway London Partnership
Ros Dunn – Chief Executive, Thames Gateway London Partnership
Roger Evans AM – London Assembly Member for Havering and Redbridge (Conservative)
John Biggs AM – London Assembly Member for City and East (Labour)