by Vittoria Zerbini
CityAM reported the appointment – announced in January – of former Lord Mayor of London, Michael Mainelli, as LCCI president. Chair of think tank Z/Yen, Mainelli has held senior roles at BDO Binder Hamlyn and Deutsche Morgan Grenfell. He remains an Alderman for Broad Street Ward in the City of London. LCCI chief executive Karim Fatehi OBE praised Mainelli’s leadership and vision for a competitive, sustainable capital.
Cautious optimism
Following the launch of LCCI’s Capital 500 quarterly economic survey, The Standard and Director of Finance shared how the survey showed London businesses to remain cautiously optimistic for 2025 despite challenges, with half expecting turnover growth and nearly 48 per cent predicting increased profitability. However, confidence in the overall UK economy has sharply declined, with concerns over recent Budget decisions and the effect of inflation. Smaller firms are more optimistic about profitability, while larger businesses are more cautious. Inflation, rising energy and fuel costs, and a stagnant labour market remain key concerns. Quoted, Fatehi said that stability and supportive policies were crucial for long-term growth, urging the government to address rising costs and labour shortages.
Expansion
The Standard reported on how business and union leaders welcomed the approval for a third runway at Heathrow, with LCCI’s Karim Fatehi highlighting the importance of Heathrow for London’s global competitiveness and economic growth. The expansion is seen as essential for trade, though concerns about environmental sustainability and workforce resilience persist. The government is therefore being encouraged to support both infrastructure development and the aviation sector’s decarbonisation efforts.
Vittoria Zerbini is media and policy assistant at LCCI
