City of London/Oliver Wyman: London Recharged: Our Vision For London In 2025
23 October 2020
This report, produced in partnership with The City of London Corporation and Arup, sets out detailed recommendations to aid the capital’s recovery from COVID-19 and enhance its long-term competitiveness by focusing on innovation, collaboration, inclusivity and sustainability.
The findings show that business remains committed to central
London and recognises the value of working alongside customers, clients
and competitors. Nonetheless, investment in skills, digital
infrastructure and built environment will be needed to ensure London
remains the global centre of choice.
The report’s recommendations include:
- Create spaces to innovate,
akin to start-up incubators focused on a specific theme (for example
Station F in France and Level 39 in London)
- Pilot transformation of London’s office stock to support new uses, including the development of ‘hyper flexible spaces’
- Explore ways to innovate
London’s transport network considering new consumer/ commuter behaviours
and the network’s financial difficulties
- Conduct a regulatory review of listing structures to ensure the UK’s competitiveness relative to other listing locations
- Make the case for visa structures and immigration procedures that can make it simpler for skilled workers to come to the country
- Equip businesses to benefit
from digital transformation by establishing a digital adoption fund and
make it easier to access growth finance for business
- In partnership with leading
diversity organisations, endorse a suite of diversity targets for
financial services, professional services and tech organisations to
adopt and use as a roadmap
Our work calls for London
representatives to work more closely with leaders of other UK cities to
support the Government’s levelling-up agenda. This would help to promote
the capital as a global gateway for trade and investment into firms
based in other parts of the UK.Oliver Wyman
© Oliver Wyman
