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Boris warns: All this panic will scare off big business
Katharine Barney and Pippa Crerar15 Oct 2008
BORIS JOHNSON today raised fresh fears that businesses could be driven away from London by the gloom surrounding the financial markets.
The Mayor told the London Assembly it was vital to continue to invest in infrastructure such as Crossrail to encourage FTSE 100 companies to base themselves in the capital. He also said that Tube upgrades were "vital" to London's long-term competitiveness.
Mr Johnson said: "Thre is a great deal of alarm and the whole thing is very much gloomier than it need necessarily be.
"We need to be careful we don't inadvertently create the next crisis rather than solving the last one and don't drive away FTSE 100 companies. It is vital that we don't incapacitate our financial services sector which is of great importance to this country."
But the Liberal Democrats said Mr Johnson should draw up a firm plan of action rather than downplay the situation.
Mike Tuffrey, the leader of the group, said: "There'll be a real, profound effect on London and its economy and I've not seen or heard a word from the Mayor as to how London should respond."
Reader views (3)
The Evening Standard pages and Boris Johnson recommending the go ahead of a £16bn+ Crossrail scheme while ordinary Londoners are face real financial setbacks is shameful. Most of these companies pay no corporation tax and are living off the state in more ways than one.
- Val Keller, london uk, 15/10/2008 21:37
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Val, I so love your comments from Mijas Costa Spain. If you are so in love with Browns' Britain why don't you return and savour the delights ? There are 1.7 million unemployed and set to increase to 3 or perhaps 4 million. Already 1.7 million live in house holds where the only income is state benefits, 3 million children live in homes where no one is in work and heavens knows how many are "on the sick " because they are not on the unemployed register.Yet we can find £billions to save the banks and all the while NICE refuses to sanction cancer drugs for dying people.All this after 11 years of Blair and Brown. No wonder you live in Spain.
- Michael, London, 15/10/2008 20:50
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Although I don't usually agree with the mayor, on this occasion I do. There are those who would like to see the economy collapse because they want a change of government, but they should remember we have a long way to go before we reach the 4m unemployed in the 80s recession. There are still 600,000 vacancies out there and a mountain of construction work for 2012. My husband was out of work more than he was in during the 80s, and I was made redundant twice. Nevertheless, things improved and they will again. I do believe if you say something often enough people begin to believe it and it becomes a self-fulfilling prophecy. These prophets of doom should remember they could talk themselves out of a job too.
- Val Daniels, Mijas Costa. Spain, 15/10/2008 16:00
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