Lady Mayor vows to unsquare the Square Mile to boost social mobility

The Lady Mayor of the City of London, Alderwoman Dame Susan Langley, has warned that social mobility in the UK has reached its lowest point in five decades, and urged companies to help tackle it. 

Speaking at Gresham College’s annual Lady Mayor’s Lecture, she set out her ambition to “unsquare” the Square Mile by connecting untapped talent with opportunity.

Citing data from the Institute for Fiscal Studies, Dame Susan revealed that children from lower-income households now face a harder challenge in outearning their parents than at any time in the last 50 years.

She described this lack of opportunity as an economic inefficiency of the highest order, arguing that addressing these barriers could increase national GDP by approximately 2 per cent: “When opportunity is constrained, when talents overlooked and when potential is left underdeveloped, we don’t just fail individuals we limit our economy.”If businesses across the country invested in social mobility, she continued, the impact would be equivalent to adding 540,000 full-time jobs – or a city the size of Glasgow – to the economy overnight.

“Increasing access to opportunity isn’t just the right thing to do, it’s the smart thing to do. It boosts productivity, strengthens businesses and drives growth,” she said. “This can’t be left to the government alone; businesses can’t afford to sit on the sidelines, leaving it to politicians, teachers, and charities.” 

Her desire to see this change stems from her own experiences. The daughter of an electrician and a stay-at-home mother, she was born in the East End of London and attended a state school before embarking on a career that included senior roles at Lloyd's of London, PwC, and the Department for International Trade. She became the 697th Lord Mayor in November last year and the first to be styled Lady Mayor. 

“My parents consistently told me that anything was possible, and also how hard it can be. That belief shaped everything,” she continued. “I was hugely privileged because I was loved, supported and, crucially, encouraged to believe that my future wasn’t limited. 

“But here is the reality – that journey is, in fact, highly unusual.”

Dame Susan shared her frustration that the City of London is often perceived by young people from working-class backgrounds as scary or closed. 

“I’ve met students who can see the City’s skyline from their classroom window but still don’t believe it’s a place for them. I’ve spoken to young people who don’t ask what job they could do in the City,” she said. “I want to use this remarkable platform as Lady Mayor to prove you don’t have to dress in a particular way, speak the Queen’s English, or go to a certain school to succeed here. 

“The City is an open, vibrant, innovative place, eager for talent.” 

She continued: “When businesses engage, when they open their doors, build relationships with schools and invest in future talent, they don’t just change lives, they strengthen their own organisation. Social mobility is not a cost, it’s an investment.” 

The lecture took place at the Guildhall in the City of London on Monday, 13 April, and ended with a discussion with an invited an expert panel.