That's according to the director general of the British Chambers of Commerce (BCC), who told a BCC convention that 'if you lived your life in London, you would often be left with the impression that the economy was about to fall off a cliff.'

Mr Frost said his various visits around the UK left him with the impression that areas outside of London were doing well, in the face of economic difficulties reported by many London businesses.

His comments follow a survey by the BCC which revealed that the majority of small businesses have not been affected by the economic crisis.