Minister for London Nick Raynsford today launched the London Development Partnership which will take charge of regeneration in the capital before an elected mayor takes office in 2000.
The LDP is a forerunner to the London Development Agency which will be set up in two year’s time should Londoners vote in favour of a Greater London Authority on May 7.
Raynsford said the LDP will prevent London from being disadvantaged by the delay in setting up a Greater London Authority. He said it will provide a regional economic development strategy to be published by the LDP in June.
The LDP will be chaired by Sir Colin Marshall who will stand down as chairman of inward investment agency London First Centre. The British Airways chairman will be backed by a full-time chief executive and a business-led board drawn from a list of partners including the CBI, London First, City Corporation, and the Association of London Government.
Other than formulating a regeneration strategy, the LDP will advise on the spending of the single regeneration budget. It will also focus efforts to increase the amount of inward investment and work with English Partnerships to provide key sites to meet commercial demand.
EGi News 21/04/98
