Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • February 2017
02

Optimism rising for London's economy but infrastructure improvement is vital

Open-access content Wednesday 1st March 2017 — updated 5.50pm, Wednesday 29th April 2020

London firms feel more positive about the economy than just after the EU referendum, but believe improving the capital’s infrastructure is key, according to the Confederation of British Industry (CBI).

2

It's 2017 London Business Survey report shows that more than eight in ten of the capital's companies see Crossrail 2 as being central to the city's successful expansion.

A similar number also believe that sticking to current timetables for building Heathrow's third runway is vital to attract investment, while four fifths of firms think that river crossings in East London are essential for boosting growth.

CBI London Director, Eddie Curzon, said: "As one of the world's few truly global cities, London's star continues to dazzle at the start of 2017. The capital's businesses want to keep it that way, and recognise the importance of driving the city's infrastructure forward to do so.

"By ploughing ahead with Crossrail 2, a new runway at Heathrow and making better use of the River Thames, London can keep ahead of the curve and make the city an even more attractive place in which to invest, live and work for decades to come."

There were 183 responses to the CBI survey, mainly from CEOs of leading London-based companies, which was carried out between 13 December 2016 and 12 January 2017.

It was found that 19% feel more positive about the economy over the next six months, in comparison to just after the Brexit vote when it was 4%, while 26% are more optimistic about their business over the next half year, compared to 8% last summer.

However uncertainty over the UK's role in Europe is the biggest concern for 71% of companies, followed by price increases and inflation, which was the highest this concern has been ranked since 2008.

Despite this, 54% are maintaining their current investment plans, and 26% are planning to boost them, with 58% believing that Brexit has not impacted on their ability to hire workers.

"While the uncertainty about the UK's future relationship with Europe is weighing on minds in the City, it's good to see firms beginning to bounce back from the Brexit effect, and having a more positive view of the economy than immediately after the vote to leave the EU," Curzon continued.

"As the country looks to the government to negotiate the best deal for business following the referendum, London's firms report that the outcome of the EU referendum is having a limited impact on operations so far.

"It is imperative that the government provides firms with as clear a picture as possible as to the likely Brexit outcome to give them the confidence to invest and grow their business in the future."

"London's voice must continue to be heard to make a success of Brexit and ensure the future prosperity of our capital, and the whole of the UK."


Sign up to our free newsletter here and receive a weekly roundup of news concerning the actuarial profession

This article appeared in our February 2017 issue of The Actuary.
Click here to view this issue
Filed in
02

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

New Fast-Growing Team - Actuarial Systems Development

London (Greater)
Excellent Salary Package
Reference
143762

Actuarial Pension Consultant – Scotland/Remote – Up to £90,000 plus bonus

Edinburgh / Glasgow / Remote working
Up to £90,000 + Bonus
Reference
143761

Part Qualified Pensions Actuary– Specialised Pensions Consultancy - Scotland/Remote - Up to £70,000

Edinburgh / Glasgow / Remote working
Up to £70,000 + Bonus
Reference
143760
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ