The capital’s leading business campaign group BusinessLDN has today launched a new growth-focused commission to unlock the full potential of London and help the UK outperform disappointing economic forecasts.
The Growth Commission, chaired by Helen Gordon, Chief Executive of Grainger, will bring together senior leaders from business, culture and academia across the capital to identify barriers that are holding the city back as well as practical steps to shift the dial on growth now, plus measures with commercial edge that will improve the economy’s performance in the short and medium-term. Commissioners include representatives from major employers, including Deloitte, McKinsey, the London School of Economics, Royal Albert Hall and Vodafone/Three.
Official forecasts published alongside the Budget last month saw UK growth downgraded for every year through to 2029/30, except for this year. With London accounting for just under a quarter of the UK economy, improving the capital’s performance is essential to delivering the Government’s growth mission. Taking action now is urgent, as productivity in the city is lagging behind many other major UK cities and international competitors.
Helen Gordon, Chair of the Growth Commission and Chief Executive of Grainger, said: “The UK is stuck in a low-growth rut and a key step to getting out is unlocking the full potential of London. This Commission will bring together unique cross-sector perspectives from across the capital as we develop an action plan to get the city’s economy firing. This matters – not just for Londoners but for the whole UK, given their success is intertwined.”
London’s net fiscal surplus, the difference between taxes raised and public spending in the city, was £43.6 billion in the financial year ending 2023. This surplus supports public spending in other parts of the country.
John Dickie, Chief Executive of BusinessLDN, said: “The Chancellor took welcome steps to shore up the public finances at the Budget, but Office for Budget Responsibility forecasts show this is not enough to shift the dial on growth. The UK risks experiencing another lost decade if action is not taken now to turn around our economic performance and unleash the private sector’s animal spirits. Doubling down on London’s existing strengths by addressing regulatory and other roadblocks holding the city back will be vital if the Government is to turn its growth ambition into action.”
The Commission will focus on cross-cutting measures to boost investment and productivity, the powers and tools that London needs and sector-specific measures. It will set out practical reforms that can be taken now to accelerate growth at no cost, measures that can be implemented over the short to medium-term within the Government’s existing spending constraints, and steps that require some upfront investment but which would deliver demonstrable and substantial payback.
The Commission’s first meeting will take place on 19 December. It will publish its findings in Spring 2026.. The list of commissioners is:
- Helen Gordon, Chief Executive, Grainger and Chair of the Commission
- Peter Hogg, London City Executive, Arcadis
- John Dickie, Chief Executive, BusinessLDN
- Fiona Walker, Partner, Deloitte
- Professor Shitij Kapur, Vice-Chancellor & President, King’s College London and Chair of London Higher
- Professor Tony Travers, Associate Dean of the London School of Economics School of Public Policy
- Natasha Stern, Partner, McKinsey
- Hayley Rees, Managing Director, PIC
- James Ainscough OBE, Chief Executive, Royal Albert Hall
- Stephen Lerner, Regulatory, Government Affairs & Company Secretary, Vodafone/Three
Alexander Jan, Chair of the Central District Alliance and Hatton Garden Business Improvement Districts.
The Commission will invite calls for evidence from experts to broaden its input on specific issues and sectors as required.