We need the energy of Londoners

As always in life it’s never that straightforward. A sort of X Factor for politicians and economists is needed.

For example, is our financial services sector too big?

Maybe, but it is something we have been good at for many years.

We need to make it fit for new purpose, and we can do that.

And there are other success stories we must support. But what will the new growth areas be?

I have three rules we need to follow from government in London.

The first is to accept we don’t have all the answers and we need the energy of ordinary Londoners to create our success. But we must support success where we see it.

This means backing “old� sectors like financial services but also new ones like sustainable manufacturing and knowledge spin-offs from universities.

The second is we need to improve London’s infrastructure, particularly transport. This is not a time to cancel spending that will make us stronger into the future.

And the third is use some of our public money to build houses – we should use the downturn to build homes for Londoners who cannot afford to live in our city.

And this would retain construction jobs, disappearing in the thousands.

Happy Christmas and have a good break.