Mayor of London, Boris Johnson, has promised to draw up an ‘Economic recovery plan' to help the capital cope with the threat of recession. Mr Johnson has held a series of consultations with business groups, finance houses and leading multi-nationals in the city, and now says that he will publish an economic recovery plan by Christmas. He also stressed the importance of pressing ahead with more than 50 major infrastructure projects, such as upgrades to London Underground and the Crossrail scheme, to ensure that London remains globally competitive. A key issue will be streamlining procurement procedures, to make it easier for small companies to bid for GLA group work, and paying contractors more quickly. Mr Johnson said: ‘Although we might be in for a bumpy ride, if we handle this right, we can come out of the slump in a stronger position than before.'
