£58m Govt Funding Announced To Support New Jobs

The Mayor of London has welcomed £58m of new Government funding that his team will use to help create thousands of new jobs.

The money will be spent on developing schemes that will help the capital's employers generate new jobs and provide Londoners with the skills to fill them.

Providing the jobs and skills to support soaring population levels in the capital is crucial and the new funding is on top of a £236m 'Growth Deal' for London that was signed off with the Government last year. The London Enterprise Panel, which is chaired by the Mayor, is at the heart of those plans and they will now consider where best to allocate the new funds, which have the potential to support up to 2,400 new jobs.

Mayor of London and Chairman of the London Enterprise Panel, Boris Johnson, said: "This extra cash will deliver real change and new opportunities in communities across the capital. We've got some fantastic proposals in the pipeline that will not only reinvigorate our town centres and colleges, but help people to learn, earn and fill thousands of new jobs."

The Growth Deal for London runs for six years from 2015 to 2021. With the new funding in place the Deal has the potential to generate a total of £190m of new public and private investment in London and up to 8,000 jobs. Of the £58m announced today, around £38m will be used to support colleges and further education in the capital. The remaining £20m will be used to support the creation of new jobs on the capital's high streets. The Government plans to make another £5bn of funding available nationwide over the period of the Growth Deal and London will be bidding for a share.


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