London’s Economy

My constituents would be keen to see that, particularly in respect of family-sized housing. I cite the example of Thomas Fairchild primary school in Hoxton, in the heart of my constituency, which is surrounded largely by dense council estates. I went to visit in July 2005, just after the general election. Of the year 6 group that was leaving the school, less than 20 per cent. had been there since reception. The people living around that school were not middle-class people with houses that they could sell to buy elsewhere. They were finding other ways to leave. Many were aspirant, keen to buy and to move to areas such as the constituency of my hon. Friend the Member for Edmonton (Mr. Love) where they could afford a home, but could not afford to buy a home in my constituency. We must ensure that we take every step we can to keep people in London, whether they are indigenous or immigrants, whether or not they work for big City firms. I shall not repeat what my hon. Friend the Member for Hendon said about skills, but I endorse every word that he said. There are huge issues in Hackney, South and Shoreditch, but, given the time, I shall not go into all of them. Twenty-two per cent. of the residents of Hackney as a whole are aged under 16, and one third are under 24. The youth and energy of those people are key potential contributors to London’s future growth and stability, if we can keep them in London. I hope that my hon. Friend the Minister has heard what we have said today and will consider London kindly in the spending review.