10/16/09
“Johnson Pressed on Immigration Rules”
An article in the October 16, 2009 issue of The Financial Times cited a prominent Booz & Company report that confirmed many of the factors contributing to the City of London’s powerful position as a world capital of business are at risk. Presented to Mayor Boris Johnson and members of his International Business Advisory Council (IBAC) at their annual meeting at City Hall, Booz & Company’s review of London’s overall business competitiveness determined that safeguarding financial services and nurturing the leading creative and legal industries were vital in retaining the capital’s status as a premier business destination. According to the study, more than 50 business leaders said measures such as the planned 50p top tax rate and a £30,000 levy on non-domiciled residents were prompting individuals and companies to consider leaving London. The report urged the Mayor to set up a small London competitiveness unit to strengthen his lobbying capability, with one of its priorities to launch a coordinated campaign on immigration. Booz & Company delivered its business competitiveness report at the request of Ian Livingston, Chief Executive of BT; and Richard Sharp, Chair, Royal Academy.