LEP agrees NHB funding

A £70million borough-led programme which will create more than 7,000 apprenticeships and training opportunities and boost economic growth in the capital has been given the green light.

Members of the London Enterprise Panel (LEP) have approved a package of proposals from all 32 London boroughs and the City of London for stimulating jobs and growth. London Councils hope the plans could see 130,000 square metres of public space regenerated; 180,000 square metres of workspace developed; more than 6,600 Londoners helped into work and 720 businesses started.

The projects are part of the LEP New Homes Bonus Programme funded from the portion of the central government grant topsliced by the LEP. The initiatives, which will start in April 2015, have been developed by boroughs in response to a call for applications by the LEP.

The Mayor of London and Chairman of the London Enterprise Panel, Boris Johnson, said: “This important scheme will mean that building vital new homes also provides our boroughs with funding to be used to create thousands of new jobs, improve infrastructure and boost skills across the capital.”

Councillor Claire Kober, London Councils’ Executive member for regeneration and infrastructure, said: “These proposals will transform high streets, create apprenticeships, support entrepreneurs, help more of our young people and long-term unemployed into work and foster innovations in new technology.

“Boroughs have brought their knowledge and experience of local communities to bear in the design and development of this programme and have worked closely and collaboratively with the Mayor and the GLA to ensure the best deal for our residents.

“These projects show how effectively London local and regional government and the LEP can work together to boost economic growth and provide opportunities for Londoners.”

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