London Enterprise Panel

Meeting: 
MQT on 2014-09-17
Session date: 
September 17, 2014
Reference: 
2014/3466
Question By: 
Fiona Twycross
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Please outline all the funding programmes that the London Enterprise Panel controls or advises on the spending of, and the value of each programme.

Answer

Answer for London Enterprise Panel

Answer for London Enterprise Panel

Answered By: 
The Mayor

The London Enterprise Panel advises on the spending of the Growing Places Fund, the 2014-20 European Structural and Investment Funds and the Growth Deal funds including the Digital Skills Programme, Further Education (FE) Capital Investment Fund and New Homes Bonus.   

A table providing further information is attached below.

The LEP is also allocated several smaller pots of funding from Government to support staffing costs, stakeholder engagement, intelligence and information gathering, financial modelling and strategy development and delivery. To date this funding has totalled £1.2m.

Funding Programme

Value

Description

Growing Places Fund

£111m

£111m of funding from the Growing Places Fund has been allocated by the LEP for projects that support delivery of its Jobs & Growth Plan for London.

European Structural and Investment Funds

€748.6m

The LEP is responsible for setting the strategic direction and priorities of the London 2014-20 European Structural and Investment Funds (ESIF). The LEP has been notionally awarded €748.6m of European Social Fund (ESF) and European Regional Development Fund (ERDF) to invest in boosting jobs and growth for London.

Growth Deal

Digital Skills Programme

£5m

A programme to help raise digital skills among young people in London. 

Further Education Capital Investment Fund

£120m

A programme of investment in new infrastructure for further education colleges and other skills providers in the capital. Includes an initial allocation of £55m and a further £65m also provisionally agreed. 

New Homes Bonus

£70m

To be used in partnership with London's boroughs on projects that will support the London Enterprise Panel's Jobs and Growth Plan.