London’s Economy

I do not want to digress too far on the congestion charge. We always knew that the congestion charge was an attempt to address many issues. Congestion was one; pollution and climate change were another. It was not intended to be a quick fix. It is a longer-term plan in respect of the money that it might raise and whether it will break even than something that will make or break in a short time. However, that is perhaps for another debate. In order for London to maintain its competitiveness, we need continued investment in transport. Crossrail is particularly key. It would cut through 10 boroughs just outside my constituency, but it is nevertheless important to my constituents. We need to see full and proper extensions to the docklands light railway, which has, we would all agree, been one of London’s great successes. We need to do so not only because we need the transport improvements but because we need to see a proper tackling of climate change and CO2 emissions. We ought to be thinking ahead of the game. How seriously are other cities around the world taking climate change? London is beginning to gear up to tackle that issue, and it will become more of an issue as businesses locate here and consider their carbon footprint and the ethical nature of their business with a modern, savvy consumer. Such issues are important for the rest of the country, too. A high percentage of rail journeys begin and end in London, and so all improvements benefit other citizens of the UK. We must not be seen to be saying all this as little Londoners. Clearly, my constituents will benefit from any further investment, but it will benefit individuals from the rest of the UK in their regular contact with London, too. Another issue that has not been raised is the high population turnover in London. In parts of my constituency, it is up to 40 per cent. a year, with a general average of around 30 to 35 per cent. depending on how it is measured. We see that in other parts of London, too. We need to keep people in London. Census data clearly shows a flight approximately at the point when families need an extra bedroom and/or when their children reach the age of 11. Our schools are improving significantly to tackle that. Without making a point against the hon. Member for Cities of London and Westminster, I recall that in 2005 Hackney’s school results outstripped those of Westminster. We still have some way to go.