Business Plan for Growth
In February 2016 the eight London Boroughs of Barking & Dagenham, Bexley, Enfield, Greenwich, Havering, Newham, Redbridge and Waltham Forest established the Local London Partnership (LLP) with the aim of delivering sustainable inclusive local growth. The partnership believes that through greater devolution of powers it can more effectively boost prosperity and wellbeing for residents across the eight boroughs.
In recent years Local London has seen strong employment growth. In 2017 798,000 people worked for employers located in Local London, an increase of 97,000 over the 2012 level. At 2.6 percent a year, that growth has been slightly ahead of London as a whole (2.5 percent per year), reflecting Local London’s growing attractiveness to many employers. It is also stronger than the growth rate achieved in any of the English combined authorities.
Looking forward, we forecast that the stronger-than average recent performance of Local London’s economy will continue. We forecast that Local London will add an additional 104,000 jobs over the period 2017-2030, growing at a rate of 0.9 percent per year, in line with London as a whole and behind only Central London. It is markedly faster in percentage terms than our forecasts for any of the nine English combined authorities, all of which are benefitting from central government support explicitly designed to improve their performance, but of which only Cambridge & Peterborough and Greater Manchester begin to compare with Local London in terms of future growth rates.
The Local London Growth Business Plan: The Evidence can be read in full here.