Boris Johnson sets out plans to transform London into 'economic powerhouse'

The Mayor of London has revealed how he plans on turning the capital into the greatest economic powerhouse of the 21st century, reports freshbusinessthinking.com.

This week saw Boris Johnson set out a detailed vision for boosting growth around the capital, with improved transport connections playing a huge part in his plans. 

Speaking at City Hall on Monday (17 July), the Mayor said that enhancing London’s connectivity will increase its contribution to the UK economy. Mr Johnson believes the best way to improve transport would be to build a new hub airport to compliment the new seaport that’s due to open in the Thames estuary.

Going on the findings of a peer-reviewed investigation carried out by Transport for London, he said aviation capacity could be increased through one of three options.

He suggested that one be picked out of enlarging Stansted airport, building a new airport in the inner Thames Estuary or constructing a new airport in the outer Thames Estuary.

Mr Johnson believes this would add £742 billion to the value of goods and services produced in the UK, possibly including those from event venues and accommodation providers, given their contribution to business tourism.

According to centreforaviation.com, he added: “A new airport would be accompanied by world-class public transport connectivity, it would have the resilience to withstand the worst the UK’s weather has to offer and it would have the capacity to save you from being stranded in a never ending spiral of aircraft over the suburbs.”

Mr Johnson also stated his intention to build new road and rail connections to boost the economy of east London, Kent and Essex and create a new town in west London, housing up to 250,000 people.