Boris Johnson visits Stockley Park

The giant business park, near to Heathrow, is Britain's largest, and houses a number of international companies, including BP and Marks and Spencers.

The move safeguards 300 jobs, and creates a further 200 in the first year alone.

Boris Johnson said: "I commend Canon Europe on their taste in choosing our great capital city to establish their HQ. It demonstrates that despite the current global turmoil, London is still the premier business city of choice, thanks to our stability and innovation, a highly skilled work force, a tradition of openness, and unrivalled access to western markets.

"London is also an exceptional, exciting and diverse city. Its people come from every continent, country and represent every culture in the world, so from wherever you are from you will never feel far from home.

"That's why figures show such continued and strong interest in investing in this city, and I say to global companies looking to follow Canon, we'll give you a big welcome and do all we can to make you immediately successful."