London Mayor Sadiq Khan has announced a bold initiative to generate 150,000 “high-quality, well-paid jobs” by 2028.
Scheduled for launch on Wednesday, this plan aims to bolster London’s economic landscape and foster job creation opportunities across various sectors.
Joining Khan in the unveiling will be Rachel Reeves, the shadow chancellor, who will emphasize Labour’s commitment to redefining the relationship between the national government and London.
The initiative, termed the London Growth Plan, has been developed in close collaboration with local councils, businesses, and trade unions. It will prioritize levelling up opportunities within the city, particularly targeting small businesses and outer London alongside the Central Business District.
Key components of the plan include securing new investments for London, nurturing the growth of small and medium-sized enterprises (SMEs) into larger entities, and attracting fresh enterprises to the capital. It will also focus on expanding sectors such as AI, cybersecurity, health and life sciences, and creative industries like fashion, film, games, music, and TV.
Khan emphasized the untapped potential of London’s economy and criticized the economic stagnation under successive Tory governments. He highlighted the need to harness London’s potential for the benefit of both the capital and the entire country.
The plan also involves collaboration with the Mayor’s Fund for London, which will work with private sector partners to facilitate the entry of individuals from low-income backgrounds into the job market.
The announcement comes amid Khan’s re-election campaign, where he faces Conservative rival Susan Hall. Despite commanding a significant lead in polls, Khan expressed concerns about voter turnout due to changes in the voting system, including the requirement for voters to show ID.
While Khan is well-positioned for a third term as London mayor, his campaign remains vigilant, recognizing the importance of energizing supporters to ensure a successful outcome in the upcoming election.
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Sadiq Khan Unveils Plan to Create 150,000 High-Quality Jobs in London by 2028