London is justly proud of its status as the world’s leading financial centre and the engine of the UK economy. This pride must never give way to complacency, however. The winner of the mayoral election on May 1 faces a huge challenge. There is no doubt that we face an economic downturn. With growth in 2008 and 2009 forecast to be as low as 1.3 per cent, it is feared that London will be hit harder than the rest of the country. The City warns that 40,000 jobs may be lost, and estate agents that London’s housing market could crash.

Forty per cent of jobs in London require degree-level qualifications, but 50 per cent of the capital’s population do not have the numeric skills expected of an 11-year-old. Our worklessness rate is the country’s highest. I want to see more cohesion in the activities of the six government agencies that claim responsibility for improving London’s skills base. There should be a one-stop shop offering career and training advice.