By Maximilian Clarke
Investment in London's infrastructure is key to the economic prospects of the country, London’s Mayor Boris Johnson said today.
The mayor cited the example of a Manchester manufacturing plant that supplies axles and wheels to the Capital’s trains. Luccini manufacturing benefited from a further £2.2million in sales last year due to investment in London Underground, helping to secure 250 jobs.
“The capital is the powerhouse of the UK economy and its engine is being fuelled by a neo Victorian era of investment in London transport,” said Mayor Johnson. “The billions of pounds and pence we are spending are finding their way into pockets all over the UK. That investment must never come under threat if London is to protect the UK’s position within the Premier League of the global economy; and help generate jobs and economic growth for decades to come.”
Transport infrastructure in the capital is set to benefit from record levels of investment over the next decade. The Transport for London business plan includes billions of pounds of investment on infrastructure and the Crossrail project alone is projected to cost in the order of £14.8 billion. That investment is essential both to maintain and improve London’s transport network. It will help to sustain or create jobs across London and throughout the rest of the UK.
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