If you find the world a bit depressing these days, then for goodness’ sake don’t read the (excellent) new report by the Centre For Cities about London’s economic malaise. I’ve just pored over it, and I’m now about as happy as one of Dominic Raab’s secretaries.
London’s productivity is lagging way behind New York and Stockholm and “becoming less competitive in the global economy as its productivity growth has stagnated”. The cost of this is vast: if London had performed as well as other international capitals, the economy would be generating around £17 billion a year in extra tax revenues to improve our public services.
