Mayor of London, Sir Sadiq Khan and London Councils have launched the London Growth Plan.

Its first priority is to increase the growth productivity rate in the capital to 2% from the current 0.12% each year until 2035.

Sir Sadiq says this will provide an extra £27 billion in tax revenue for the Treasury.

Critically, the plan names Sutton as a “life sciences hotspot.”

This is due to the London Cancer Hub which is based in Belmont, which is being touted as Europe’s leading cancer research district.

The hub is home to the likes of The Royal Marsden, the Institute of Cancer Research and Maggie’s Cancer Support.

There are 3,200 jobs already onsite with thousands more as it continues to develop.

The South London Partnership (SLP), a coalition of the boroughs of Croydon, Kingston, Merton, Richmond, and Sutton has welcomed the plan’s focus on local economic hubs and innovation-led growth.

Councillor Gareth Roberts, Chair of the South London Partnership and Leader of Richmond Council, said:

“South London is a powerhouse of talent, innovation, and enterprise – driving growth across frontier industries, professional services, creative sectors, and environmental research.

“The London Growth Plan rightly recognises that London’s future success depends on strong local economies like ours,” said Councillor Roberts.

South London, home to more than 1.2 million people, drives a £30 billion economy, supporting 550,000 jobs and 55,000 businesses.

Find out more about the London Growth Plan by clicking here.

What Sutton Council says about the London Borough of Sutton

Sutton is situated less than 30 minutes by train from Central London, with direct connections to London Victoria and London Bridge.

Home to over 209,639 people, Sutton is a London borough increasing in popularity. This is mainly thanks to our award winning parks and open spaces, low crime rates, affordable housing and great schools (we are one of the highest performing education authorities in the country). Sutton is home to the Royal Marsden Hospital and the Institute of Cancer Research.

The London Cancer Hub will be the world’s leading life-science district specialising in cancer research and treatment. This will create 13,000 jobs while contributing £1.2bn to the UK economy each year, a vibrant community of scientists, doctors and innovative companies intended to deliver real benefits for cancer patients and drive economic growth.

Sutton is winning awards for its sustainable and eco designs for public buildings and has thriving small friendly high street shops as well as the St Nicholas Shopping Centre.

Simon Hogg, Leader of Wandsworth Council, said: “This plan is good news for Wandsworth as it will help shape investment into our borough for many years ahead. We’re delighted to be recognised for growth and economic development and as a trusted delivery partner over the next decade.

“Wandsworth is already leading growth through significant innovation and industry, investing in successful skills and jobs programmes and with a track record on building new homes and renewing local neighbourhoods. We’ll continue to ensure that new opportunities deliver real benefits for our residents, from affordable homes to high-quality jobs and look forward to working with the Mayor, London Councils and Government to make this vision a reality.”

We’ll have more details on air on 107.8fm and in tonight’s Good News bulletin which will be published on social media at 6pm.