Responding to new ONS figures showing that the UK economy grew by 0.7% in Q3 2026, Muniya Barua, BusinessLDN’s Deputy Chief Executive, said:
“The economy has proven resilient in the face of significant headwinds as the war in Iran pushes up inflation and the cost of borrowing. But the Government can’t take this for granted and should act now to prevent growth stalling in the coming months as energy prices jump for households and businesses.
“Ministers must keep up the momentum with fiscal devolution so that the capital and other regions can fund vital infrastructure, including the Bakerloo line extension and West London Orbital, which can unlock tens of thousands of new homes and jobs. At the same time, projects such as Heathrow expansion must progress at pace to unlock the benefits improved connectivity can deliver to London and the UK.
“With the capital facing the highest youth unemployment rate in the country, getting more Londoners into work is both an economic and social priority. Ahead of the publication of the Milburn Review, businesses stand ready to support the Government’s ambition, but they need ministers to create the right conditions for firms to grow and employ more people.”