London Growth Fund

Meeting: 
MQT on 2012-07-04
Session date: 
July 4, 2012
Reference: 
2012/2096
Question By: 
Andrew Dismore
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

In your manifesto you said, 'I will also use £25 million from the new London Growth Fund, to invest in job and skill creation programmes through the London Enterprise Panel' and 'Launch a new £35 million revolving fund, through the London Growth Fund, to provide low-cost loans to small and medium-sized businesses.' Can you explain how will you do this when the current London Growth Fund is only worth £41m?

Answer

Answer for London Growth Fund

Answer for London Growth Fund

Answered By: 
The Mayor

The London Enterprise Panel was awarded an initial £41 million as of part of the Growing Places Fund in February 2012. In addition to this initial allocation, the LEP was also allocated a further £70 million via the Growing Places fund, announced as part of the last Budget.