In response to the Mayor’s announcement of a new £100 million fund for small businesses, which includes £14 million to help London make the transition to the circular economy, Labour’s London Assembly Economy Spokesperson, Leonie Cooper AM, said:
“With small businesses in our capital feeling the acute strain of economic uncertainty, in part brought on by the Government’s shambolic handling of Brexit, the launch of this fund will provide a vital helping hand.
“It is imperative that London remains the most attractive city in the world for business and investment. To achieve this, we need to provide the right level of support for SMEs, who play a significant part in creating jobs for Londoners and boosting growth in the capital.
“It is also very positive to see City Hall investing in London’s transition to the circular economy to boost the sustainability of our businesses and potentially generate billions of pounds.
“We must bear in mind that a large portion of this funding stems from European Union sources and we urgently need to hear specific details as to how the Government plan to replace these investment streams for London”.
ENDS