Commenting on the Chancellor’s speech on growth today, BusinessLDN’s Chief Executive John Dickie, said:

“The Chancellor is right to recognise that turbocharging growth is the only way that the Government will be able to put more money in people’s pockets and improve public services.

“As an engine of growth for the whole UK, London has a key role to play in helping the economy reach full throttle. Backing a third runway at Heathrow sends an important signal that the UK is open for business and will enable Britain’s hub airport to seize opportunities presented by rising demand for travel, while also supporting business growth. London’s airports are gateways to the world but decades of dither and delay mean that they are operating close to or above capacity so expansion – in line with strict carbon, noise and air quality targets – is long overdue.

“Accelerating delivery of vital infrastructure by reforming the planning system and ensuring the visa system enables high growth sectors to attract the skilled people they need to succeed are also important steps.

“This now needs to be matched with a Spending Review that prioritises funding for measures that will help London and the UK to move out of the economic slow lane, including a multi-year funding deal for Transport for London and an expanded Affordable Homes Programme.”