London needs £1.3 trillion to maintain position as a world leader – Report

A report titled a “wake-up call” has said that Britain’s leading city – London – will need £1.3 trillion to keep up with its sharply growing population, as well as maintain its status as a leading global city.

The figure was made public yesterday (July 30) in the report which lays out what transport, technology, energy and other infrastructure will be needed by the year 2050.

An expert who helped write the report warned that the sky-high cost, which can be likened to funding a London Olympics every three months for the next 35 years, will have to be borne in part by the taxpayer.

London Mayor Boris Johnson said: “This plan is a real wake-up call to the stark needs that face London over the next half-century.”