Majority of firms with London offices will stay in the capital
More than three-quarters of companies with London offices believe the capital will have an improved stature or at least be in the same position in five years' time.

Meanwhile, 88 per cent asserted that in this period their business will continue to have a base in the city, the Confederation of British Industry (CBI)/KPMG London Business Survey found.

Over the next 12 months, 58 per cent of organisations will expand, with 42 per cent stating they will increase the number of London offices they have.

The skills and talent pool found in the capital were cited as the biggest draws for companies, while proximity to clients and accessibility of global markets were seen as positives to trading in London.

Commenting on the findings, chairman of KMPG Richard Reid said as the mayoral candidates start to campaign, "transport is the key issue and businesses will be eagerly listening to find out how improvements will be made a priority, with a particular focus on increased air and rail capacity in the south-east".

Current mayor of London Boris Johnson has made clear his preference for a new aviation hub on the Thames as the coalition government has ruled out expanding Heathrow, Stansted or Gatwick Airports.

Posted by David Hudek

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