London's transport infrastructure is in need of sustained investment according to a study carried out by KPMG LLP on behalf of the Corporation of London.

The study found that across most modes of transport, London does not compare particularly well with Paris.

A spokesman for the DfT told ePolitix.com: "The government agrees that transport in London needs sustained investment. Under the Ten Year Transport Plan, the funding for Transport for London has more than doubled, while funding for the tube has tripled.

"London Underground will receive £16 billion over 15 years."

Forum Response: Corporation of London

Michael Snyder, chairman of the policy and resources committee, said: "The conclusions of the report are clear for policy makers. London suffers from a fragmentation of institutional control and funding.

"It needs funding stability - most European cities benefit from strong and consistent financial support.

"Despite all London has to offer in terms of its labour force, cultural attractions and access to markets, it risks losing its pre-eminent world city role if improvements in transport are further delayed."

Forum Response: Institute of Directors

A spokesman for the IoD told ePolitix.com: "London's transport infrastructure certainly needs funding stability and a genuinely integrated transport strategy. For example, widespread road pricing would help deliver some of the revenue needed for major investment.

"The government should also look to capitalise on the windfall land price gains. The Canary Wharf developers contributed £300 million towards the Jubilee Line extension. The same approach could be used with Crossrail for example.

"The private sector also has a role tom play on the finance side.

"But the most important requirement is a sense of urgency. This is where politicians must start to give a stronger lead."

Forum Response: British Retail Consortium

Bill Moyes, director general of the BRC, said "Our transport system has been neglected for too long.

"London has an economy larger than that of Austria, Norway, Denmark, Finland and Portugal and they can confidently welcome visitors to their cities.

"London has over 30,000 shops and Oxford Street is the busiest shopping street in Europe with over 200 million visitors a year. But we undermine this achievement by making the journey in so poor.

"Our priority must be to strengthen consumer confidence. The business community, local authorities and tourist agencies must work together with Tranport for London to create a shopping experience that is worthy of London's status as the shopping capital of the UK.

"Only then will we be worthy of becoming the shopping capital of the world."