London outlines six-point plan to boost growth, upgrade infrastructures

George Osborne, British Chancellor of the Exchequer, and Boris Johnson, Mayor of London, outlined their six-point economic plan for London on Friday.

In a speech at the Tate Modern, an art museum in central London, Osborne and Johnson set out the detailed plan alongside a number of visits in the British capital. The plan comprised of:

-securing London's economic future by setting the goal to outpace the growth of New York, adding 6.4 billion pounds (or 9.8 billion U.S. dollars) to the London economy by 2030;

-creating over half a million extra jobs in London by 2020 by backing businesses, attracting worldwide investment and continuing to raise standards in schools;

-solving the city's acute housing problem, by building over 400,000 new homes;

- infusing London's transport with 10 billion pounds, including roads, buses and cycle lanes, rail service and Underground service;

-making London a center of the world's creative and commercial life, with new investment in science, finance, technology and culture;

-giving more power to Londoners to control their city's future, with new powers for the Mayor of London to support economic growth, boosting skills in the capital, and having more control over planning powers.

In a co-signed article to London Evening Standard newspaper also released Friday, both politicians said: "Our plan is about securing London's place as the greatest city on Earth."

"It's a plan to build on the success of the past five years, to create more jobs and more housing, to support investment in transport, science and culture, and give greater power over London's future to Londoners," said the two.

London's population is expected to top 10 million by the early 2030's, according to consensus predictions. Endit