MIPIM UK: Cities minister Greg Clark and mayor of London Boris Johnson have signed a £350m London Growth Deal designed to bring public and private investment in to the capital.
The deal – between the government and the London Enterprise Partnership – is designed to stimulate public and private investment in the capital to facilitate home building and create new jobs.
Projects included include a £70m New Homes Bonus programme; raising the housing revenue account borrowing limits; a £1.2m pilot for a mental health facility; a £335m programme of infrastructure investment for London’s further education colleges; £2m of funding for digital skills training; and an increase in the apprenticeship grant to employers from £1,500 to £3,000 for SMEs in London employing young people.
Clark said: “This deal seeks to make sure Londoners have the skills they need to take advantage of the enormous opportunities presented by living in the capital – while also focusing on the new homes needed as the economy grows. A new model for delivering public services will be piloted.”
Mayor Boris Johnson also chairs the London Enterprise Panel.
He said: “We’re using this funding to help the London Enterprise Panel create thousands of new jobs, improve infrastructure and boost skills across the capital. It will help to ensure London remains the best place to start a business and to invest.”
