On the face of it, the London mayor advocating for an industrial strategy might seem strange; however, a UK industrial strategy which doesn't link to the City's access to capital simply won't work.

Sadiq Khan is not suggesting London becomes a major manufacturing centre, challenging the auto sector in the Midlands, or the steel industry in South Wales or chemical manufacturing in the North West. Instead, by linking finance to manufacturing in a joined up way, we can ensure a smoother exit from the EU customs union - if that does indeed happen.

Sadiq Khan's industrial strategy should focus on how finance can support UK manufacturers. This could be in the form of funding research into new manufacturing technologies by London universities, via venture capital over technological advances in robotics, focussing on fast growing manufacturing technologies seeking finance on the London Stock Exchange's junior market AIM, or supporting challenger banks focusing exclusively on specific industries. 

The mayors office should also use its connections to promote UK manufacturing in capitals around Europe and wider afield while the government focuses on Brexit.