This is in spite of any impression that might have been generated by the recent EU referendum debate. Indeed, Britain’s new Prime Minister, taking her cabinet on an away day before the start of the new parliamentary term, instructed government ministers to seize the opportunity of Brexit to confirm the UK's place as one of the great trading nations in the world, fostering entrepreneurialism and setting out a long term vision for the country.
Speaking to London’s Evening Standard the Theresa May said, “London is one of the greatest cities on earth and we have every reason to be optimistic for its future. I have been very clear that Brexit means Brexit and that we are going to make a success of it, both for our capital city as well as the rest of the country. This is a unique opportunity to take advantage of international trade and business and strengthen our ties across the world culturally as well as financially.”
The message from the newly appointed Chancellor of the Exchequer has been equally robust. Phillip Hammond moved quickly after the result of the referendum to guarantee £4.5bn to organisations across the UK who face losing EU money after Britain voted to leave the EU.
Philip Hammond has guaranteed the money for infrastructure projects and university research programmes until 2020. Hammond hopes that by promising investment in the UK he can foster confidence in the UK economy and avoid an economic downturn. He said: "I am confirming that structural and investment funds projects signed before the Autumn Statement and Horizon research funding granted before we leave the EU will be guaranteed by the Treasury after we leave."
Confidence in the UK economy is spreading around the world. Technology company ARM holdings saw a 17% surge in sales in the week immediately following a £24.3 billion takeover deal by Japan’s SoftBank. SoftBank’s all-cash offer which is the biggest-ever acquisition of a European technology company cleared its final hurdle when 95pc of shareholders endorsed the deal at a meeting in central London.
London’s Mayor Sadiq Khan launched his campaign #LondonIsOpen with a video played to 65,000 crowd gathered for a Stevie Wonder concert in Hyde Park. A line-up of creative and musical stars feature in the film including Jude Law, Jarvis Cocker Corrine Bailey Rae, Olly Murs, Konnie Huq and Chris Moyles. A film of famous locations in the capital city opening their doors has also been produced and can be seen here. The message from City Hall is that London not only welcomes visitors from all around the world but also celebrates the diversity and dynamism that people from different cultures bring.
Mayor Khan said, “London is the best city in the world. It is creative, international, entrepreneurial and full of opportunities. I’m incredibly proud to be Mayor of a city that’s so comfortable with its diversity and so optimistic about its future. We don’t simply tolerate each other’s differences, we celebrate them. Many people from all over the globe live and work here, contributing to every aspect of life in our city. We now need to make sure that people across London, and the globe, hear that #LondonIsOpen.”
The number of cranes seen on the London Skyline is thought by many commentator to be a useful indicator of economic activity. The more cranes there are, the more building work is going on and the better the prospects for the capital’s economy. Construction figures released at the beginning of September suggest that over the next year the capital could be seeing significantly more cranes as business confidence returns. IHS Markit, which publishes the data, said there was evidence of "a renewed rise in staffing levels across the construction sector and a rebound in business expectations for the next 12 months".
Some reports suggest that at least 27 countries around the world now want trade deals with the UK including Australia, Argentina, Bolivia, Brazil, Canada, Chile, China, Colombia, Ecuador, Germany, Ghana, Iceland, India, Ireland, Japan, Kenya, South Korea, Mexico, New Zealand, Pakistan, Paraguay, Peru, Suriname, Switzerland, the United States, Uruguay and Venezuela, as the UK simultaneously prepares to negotiate the terms of its future relationship with the EU.
It looks like being a busy time in London and in global diplomatic circles over the next few months and years as new international trading relationships are negotiated.
This article was commissioned by Excel London and written by PLMR, an independent political lobbying and PR agency.
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