Dianne Abbott MP: London's Economic Growth - 08 December 2014

Source: mass emailing 

08/12/2014 Diane Abbott MP Newsletter  London's Economic Growth Dear friend, I would like to inform you that last Friday, on 05/12/2014 I secured a Parliamentary adjournment debate to discuss the issue of London's economic growth and challenge Kris Hopkins MP, the Under Secretary of State for Communities and Local Government, on the current Government's record.  My speech on the motion covered four areas that greatly affect London's economic development. Primarily, I highlighted the arguments for further devolution of financial powers to London. In comparison to London's global competitors such as Tokyo or New York, London enjoys only a fragment of the ability to raise its own revenue streams. Currently London and the other great English cities have to compete for grants from central government which is slow, bureaucratic and inefficient.  If London were given greater control over its own finances and tax revenue we would be able to meet gaps in infrastructural investment and bring decision making closer to the ground in a system that would be more democratic and accountable.  Linked to this I highlighted the years of a lack of infrastructural investment which has meant that the city's transport network, energy, and water supply faces increasing challenges in the coming years in response to a population that is expected to exceed ten million by 2030. If London can be expected to continue to grow economically addressing the infrastructure issue is a vital one. The second half of my speech focused on the importance of countering the current pervasive anti immigrant narrative and recognising the important economic contribution immigrants have and will continue to make to London's prosperity.  Finally, my arguments closed on the importance of sustainable and fair growth. Yes, we can all see London's growing economic prosperity, but excluding the very wealthy elite, many Londoners are being left behind by spiraling housing costs and price of living. If London is to continue to be a leading global city, tackling inequality must remain the number one priority for any incoming Mayor of London.  If you would like to see my full speech during the debate, please follow the link below: Adjournment Debate- Economic Growth in London I can assure you that I will continue to press the current government on the issue of Economic growth in London.  Unless we start to seriously consider the devolution issue, take concrete action to invest in the city's infrastructure, embrace the benefits of immigration and tackle rising inequality, the future of London's fair and sustainable economic growth is at risk. Thank you once again for getting in touch with me on this important issue. If you would like to find out more about the work I do in Parliament and in the constituency, please visit www.dianeabbott.org.uk You can also find me on Twitter @Hackneyabbott or on Facebook www.facebook.com/Dianeabbott Yours sincerely,  Diane Abbott MP Facebook Twitter Diane's Website My Mailing Address: Diane Abbott MP House of Commons London SW1A 0AA