Member Article

London to receive share of £1.8bn jobs and growth cash pot

The Communities Secretary, Sajid Javid, has announced that London is to get a share of a nine-figure cash pot to help boost job creation, support the capital’s businesses and encourage growth as part of the Government’s Local Growth Fund.

Announced on Thursday, the latest instalment of the fund is to be portioned out across eight local enterprise partnerships across London and the South East, with the capital receiving £141m.

Minister for London Gavin Barwell said the cash has the potential to create up to 5,400 new homes across London over the next five years, support efforts to improve environmental standards and support young Londoners in attaining new skills.

Communities Secretary Sajid Javid commented: “As part of efforts to deliver an economy that works for everyone, the government is equipping local people with the resources they need to boost growth in their area.

“This new money will give businesses across the region the support and opportunities they need to achieve their potential. This is on top of the £2.2 billion we have already awarded.”

The Local Growth Fund has already invested over £102m in 20 further education projects in London which the government claims has delivered over 17,000 apprenticeships.