London’s high streets are to benefit from £21m additional funding this year aimed at regenerating the capital’s high streets.
Local leaders in London have unveiled a plan to ‘turbocharge’ economic growth by over £100bn by boosting skills, unlocking affordable housing and upgrading the capital’s public transport.
This includes support for an ‘industrial innovation corridors’ in areas like White City, Old Oak Common, Park Royal and the Thames Estuary, and the creation of 150,000 skilled jobs.
It also proposes the creation of a London Tech and Inclusive Growth Fund which could provide up to £100m loan and equity funding for high-growth small and midsize enterprises.
The London Growth Plan, announced by the Mayor of London and London Councils, aims to increase productivity growth by 2% per year – making London’s economy £107bn larger by 2035.
Mayor Sadiq Khan said: ‘This growth plan provides a golden opportunity to turbocharge growth and unlock London's full potential – for the benefit of all Londoners and the whole country.’
Cllr Claire Holland, leader of London Councils, added: ‘Boroughs are resolutely pro-growth and are committed to working with business, the Mayor of London and national government to turbocharge growth in every corner of our city.’
Laura Citron, chief executive of London & Partners which helped develop the plan, commented: ‘This is a huge moment for our city: a shared vision, a clear plan, and now the momentum to make it happen.’
