8 January 2009
City of London’s Lord Mayor says skills must be at the heart of
capital’s bounce-back from recession
New City of London Lord Mayor Ian Luder told the annual
gathering of London council and government leaders tonight
(Thursday) that skills must be at heart of London’s bounce-back
from recession.
Lord Mayor Luder, who is elected by Square Mile businesses and
residents to act as the global ambassador for the UK-based
financial services industry, told guests (including Mayor Boris
Johnson) at the London Government Dinner at the Mansion House:
"In times of economic down-turn, increasing the level of skills
among Londoners becomes even more crucial, to enable us to meet the
challenges of the upturn and keep London competitive."
The Lord Mayor, who spends a quarter of his elected year abroad
leading City business delegations to new markets, said he
especially welcomed Mayor Johnson’s backing for a new coordinating
group to promote London as a financial centre.
Lord Mayor Luder said: "Clearly this year and the first part of
next year will be difficult and challenging, and the financial
services sector will not return to the shape it was before. However
this will not be the first time that the composition of the sector
will have changed dramatically…London’s strength is it’s size and
diversity of its offering, everything from accounting and actuarial
services to valuations, and much more in between, together with new
skills and sectors such as Sharia compliant banking and insurance
and carbon trading.
"So, although the shape of the sector will change, and we face a
difficult year or more as our economy goes through a severe
downturn, the scale of the financial services sector need not
diminish in the medium term."
Ends
Notes to Editors
- The Lord Mayor is an eminent tax accountant.
- The City of London Corporation: The City of London Corporation,
which provides local government services for the Square Mile, the
financial and commercial heart of Britain, works nationally and
internationally to maintain and enhance the City as a world-leading
international financial and business centre. Its other special
responsibilities and services to London and the wider UK include
the City of London Police, Barbican Arts Centre, Central Criminal
Court at the Old Bailey, 10,000 acres of open space including
Hampstead Heath and Epping Forest, three wholesale food markets,
two inner-London City Academies, the City Bridge Trust, economic
regeneration programmes in neighbouring boroughs and acting as
London’s Port Health Authority. The Lord Mayor of the City of
London works extensively at home and abroad to promote the
City.
- See http://www.london.gov.uk/mayor/ for
information about Mayor Johnson.
- See http://www.uktradeinvest.gov.uk/ for
information about UKTI.
- See http://www.thinklondon.com/ for
information about Think London.
See the full speech on
www.cityoflondon.gov.uk/speeches
Press enquiries: Loretta Lui 020 7332 1528/ 0777 080
3589