HOW HAVE THE STRIKES HIT LONDON?

COLIN STANBRIDGE LONDON CHAMBER OF COMMERCE
“This strike is the last thing the London economy needs during a recession. Two-thirds of companies in the capital have frozen staff pay this year, yet the RMT is demanding more money for less work. Their position is unrealistic and untenable. Ending the strike 24 hours early will halve the strike’s £100m cost to the London economy and help the RMT avoid further embarrassment and public hostility.”

BEN READ CEBR
“There is no doubt that the strike action will impose costs on the London and wider economy. GDP per day in London is around £850m, so if around five per cent of London’s workers have zero productivity for both days of the tube strike, there would be a loss of around £85m. Add to this the loss of GDP from other regions that do business with London – 25 per cent – total GDP loss will be around £110m.”

JOHN CRIDLAND CBI DEPUTY DIRECTOR-GENERAL
“This strike inflicts frustration and disruption on people. The willingness of the organisers to call the strike at this difficult economic time is particularly thoughtless. When many Londoners are concerned about their jobs, and companies are struggling to cope with a bitter recession, this action is the last thing London needs. It’s an embarrassment for a brilliant city, and an insult to millions who live and work in it.”