After winning a second term as London’s mayor in May 2012, an ebullient Boris Johnson promised to devote his time "fighting for a good deal” for the U.K. capital.

Yet less than a decade later the city that made the British prime minister’s political career risks becoming an economic casualty of his premiership.

There’s a danger that London turns into collateral damage from the mantra to focus on the provincial regions that backed leaving the European Union and cemented the Conservative Party’s power. Business leaders in London warn the government needs more urgency in its efforts to boost the engine of U.K. growth in the wake of the coronavirus pandemic.