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Extra resources for The Crisis of London
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Here too decline is forecast, but potentially with far more severe consequences. The Cambridge Regional Economic Review (1989) predicts that London’s slight increase in jobs will reverse to an average fall of 1 per cent throughout the 1990s. Already London is less important than it once was in Britain—in the mid-1950s it had 20 per cent of the entire UK employment market, but by the end of the 1970s this had fallen to under 15 per cent. Despite this London was still a conurbation with a better employment situation than any other in the UK; this may soon change.
Jones, C. and Merrett, S. (1990) Housing London: Issues of Finance and Supply, York, Joseph Rowntree Foundation. Crane, H. (1990) Speaking from Experience; Working With Homeless Families, London, Bayswater Hotel Homelessness Project. Conway, J. and Kemp, P. (1985) Bed and Breakfast; Slum Housing of the Eighties, London, SHAC. Campaign for Homes in Central London (CHiCL) (1988) Access to Housing. The Problems for Employers and Potential Employees, London, CHiCL. W. (1987) House Prices and Land Prices in the South East—A Review, London, House Builders Federation.
Another firm of agents, Drivers Jonas, preparing a report for London Transport, say that none of the 6 million square feet of space planned in London’s Isle of Dogs Enterprise Zone is likely to be started in the next five years. To quote a company spokesman: ‘Central London will remain firm but the peripheries will be blown out of the water’ (Estates Times, 18 January 1991). The oversupply of space must have direct connections to the employment situation. However, the indications are that the property market may have been over-optimistic.