Elephant and Castle and Finsbury Park are among 38 London communities set to share a £320m regeneration package announced today. The funding could trigger another £365m in private sector support for the schemes.
Minister for London Nick Raynsford said the winning schemes in the Single Regeneration Budget (SRB) announcement would tackle social exclusion, improve education and training across the capital and create 20,000 jobs.
Elephant and Castle and Finsbury Park are two of seven London areas to get SRB funding of more than £20m each, along with Dagenham and Rainham in the Thames Gateway, South Greenwich, Forest Gate and Plaistow, Tower Hamlets and Silwood in Lewisham.
London will also benefit from the review of the assisted areas. The proposed new map – announced jointly with SRB today – will maintain the focus of regional selective assistance on three key priority areas in the Lee Valley, Thames Gateway and Park Royal.
Raynsford said: “Londons response to the governments priorities and policies has been excellent. The £320m package contains major comprehensive regeneration schemes which clearly target priority community areas with higher than average deprivation.
Proposals for the £320m SRB package were accepted on the joint recommendation of the London Development Partnership and the Government Office for London.
EGi News 16/07/99
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