After section 333E (which is inserted by section 187) insert—

“PART 7BEconomic development

333FEconomic development strategy for London

(1)

The Mayor shall prepare and publish a document to be known as the “Economic development strategy for London”.

(2)

The Economic development strategy for London is to contain—

(a)

the Mayor's assessment of the economic conditions of Greater London, and

(b)

the Mayor's policies and proposals for the economic development and regeneration of Greater London, including the Mayor's strategy for—

(i)

promoting business efficiency, investment and competitiveness in Greater London,

(ii)

promoting employment in Greater London, and

(iii)

enhancing the development of skills relevant to employment in Greater London.

The references in this subsection to Greater London include its rural parts as well as its non-rural parts.

(3)

In preparing or revising the Economic development strategy for London the Mayor must consult—

(a)

such persons as appear to the Mayor to represent employers in Greater London, and

(b)

such persons as appear to the Mayor to represent employees in Greater London.

(4)

Each of the functional bodies must in the exercise of any function have regard to the Economic development strategy for London.

(5)

The Secretary of State may give guidance to the Mayor about the exercise of the Mayor's functions in relation to the Economic development strategy for London with respect to—

(a)

the matters to be covered by that strategy or that strategy as revised, and

(b)

the issues to be taken into account in preparing or revising that strategy.

(6)

The issues mentioned in subsection (5)(b) above include issues relating to any one or more of the following—

(a)

Greater London,

(b)

any area of England outside Greater London, and

(c)

any part of the United Kingdom outside England.

(7)

The Mayor is to have regard to any guidance given under subsection (5) above.

(8)

Where the Secretary of State considers—

(a)

that the Economic development strategy for London (or any part of it) is inconsistent with national policies, or

(b)

that the Economic development strategy for London or its implementation is having, or is likely to have, a detrimental effect on any area outside Greater London,

the Secretary of State may direct the Mayor to make such revisions of the strategy as may be specified in the direction in order to remove the inconsistency or, as the case may be, the detrimental effect or likely detrimental effect.

(9)

Where the Secretary of State gives the Mayor a direction under subsection (8) above, the Mayor must revise the Economic development strategy for London in accordance with the direction.

(10)

Where the Mayor revises the Economic development strategy for London in accordance with subsection (9) above, subsection (3) above and section 42 above do not apply.

(11)

For the purposes of subsection (8) above “national policies” are any policies of Her Majesty's government which are available in a written form and which—

(a)

have been laid or announced before, or otherwise presented to, either House of Parliament, or

(b)

have been published by a Minister of the Crown.”

In section 41(1) (strategies to which section applies) for paragraph (b) (the London Development Agency strategy) substitute—

“(b)

the Economic development strategy for London prepared and published under section 333F below,”.