Public transport to boost London economy- commercial mortgages

29 November 2006

Mayor of London Ken Livingstone has announced that new proposals to expand public transport services in the capital, which could benefit investors with commercial mortgages, will help the system cope with expected population and economic growth.

The plans outlined by Mr Livingstone are to include expanding the underground network, in addition to bus and rail services and a possible crossrail link, reports Reuters.

Commenting on the development, Mr Livingstone said: "This sets out a programme for the capital that will maintain London''s financial and business services at the cutting edge of UK economic competitiveness and improve the quality of life for Londoners in all parts of the city."

Meanwhile, Sir Simon Milton, leader of the Westminster City Council, has welcomed a report by the West End Commission into the development of the West End as an important and distinctive retail centre, 24dash.com reports.

Sir Simon states that the West End is "more than a retail experience" and by improving the local area it can become the "envy" of cities around the world.