London’s economic output would be £1.5 billion higher if part time employment rates for women with children in London were raised to equal those in the rest of the country, the Mayor’s London Development Agency (LDA) said at today’s State of London debate. Commenting on the statistics, Manny Lewis, the LDA’s Chief Executive, said “The lack of good-quality affordable childcare is a severe problem for many Londoners who are struggling to embark on skills training and move into work."

The LDA is taking action to address the barriers to part-time employment for women with children by providing a childcare affordability programme which will be launched in the autumn. This programme includes a flexible care pilot to incentivise providers to offer more flexible hours of care and to compensate providers for some of the additional costs involved in offering this type of care.

The LDA will also use the event to show that London, already the most multicultural city in the world, has a great opportunity to accelerate its economic growth by investing in education and skills, particularly for London’s minority communities.

Manny Lewis, the LDA’s Chief Executive, stated that according to the recent research:

• Black and minority ethnic graduates are less likely to secure good jobs compared to similarly qualified white graduates.
• Only 50 percent of disabled people of working age are in employment compared to 87 percent of non-disabled people of working age. Disabled people have less access to education, are generally less well qualified and are twice as likely to be unemployed as non-disabled people.
• Women make up almost half of the workforce but less than 10% of directors of FTSE 100 companies are women and they earn on average less than 75% of similar male incomes

He added: “London’s dynamic multiculturalism is its greatest strength, and the London Development Agency is determined to work to ensure that the skills of all of London’s citizens are developed to their maximum potential.”

ABOUT THE  LDA

The London Development Agency is the Mayor's agency for business and jobs. The LDA prepares the Mayor's business plan for London and mobilises the support and resources of hundreds of partner organisations to help build a thriving economy for London's people, businesses and communities. The LDA is dedicated to improving sustainability, health and equality of opportunity for Londoners.