Sadiq Khan pledges to spend more on London economy in election campaign launch
Sadiq Khan will today launch his re-election campaign by promising to spend more of his £16bn City Hall Budget on the capital’s economic recovery, including creating a new fund to get people back to London’s West End.
Khan will say in a speech later this afternoon that he will focus on “jobs, jobs, jobs” if he wins a second term as mayor of London, while pledging to “transform small business support” in the capital.
Khan will come up against Conservative candidate Shaun Bailey on 6 May in the mayor of London election, after the poll was postponed last year by the pandemic.
The mayor is widely expected to win re-election, with polling suggesting he has a 20+ point lead over Bailey.
Khan is expected to say today: “Jobs, jobs, jobs are a top priority for my second term.
“I want the government to back this ambition with a jobs guarantee, creating opportunities for Londoners, particularly in the key industries of the future.
“I am hopeful that with the right support from the government, working with London’s businesses, we can help get the 300,000 Londoners who have lost their jobs during the pandemic back into work quickly. “
Khan will announce three key policies today as a part of his campaign launch – a £5m fund designed to bring Londoners and domestic tourists back into the West End, a pledge to “maximise” City Hall expenditure on London’s economic recovery and a pledge to make it easier for London business owners to “to access advice and support”.
City PM also reported last month that Khan’s manifesto will include a call for the government to give City Hall powers to implement rent controls in the capital.
The launch comes after chancellor Rishi Sunak yesterday announced £60bn in extra Covid support for businesses across the UK in his spring Budget.
This included extensions for a range of emergency support schemes – including the furlough scheme, VAT cut for the retail and tourism sectors and business rates holiday – as well as initiatives like the “recovery loan scheme” that will provide businesses with government-backed loans worth between £25,000 and £10m.
The chancellor also unveiled a new £5bn grants scheme that will provide Covid-hit firms up to £18,000 to boost their survival chances.
The mayor will ask for the government to do even more to support London’s businesses today, “particularly in the key industries of the future”.
Khan will also pledge to “continue my relentless focus on cleaning up our city’s air, building record numbers of new council homes and being both tough on crime and its causes” at his launch today.