London’s growth in business rates will be used to fund eight projects to improve the capital’s digital infrastructure.

The London boroughs and the City of London Corporation have allocated nearly £47m from the business rates retention scheme to the projects.

The schemes include installing fast fibre-optic broadband connections in strategic locations, developing an Open Data Standard for planning applications and establishing a multi-purpose Internet of Things platform.

London’s chief digital officer, Theo Blackwell, said: ‘We are mobilising new investment to support businesses and citizens by working closely with councils to improve customer choice and target “not spots”.

‘Our work together sets solid foundations for future 5G technologies in London, which will create new jobs and make London a smarter city.’