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Mayor to invest £50m in long term London regeneration

Thursday August 11th, 2011

The Mayor of London Boris Johnson has announced a £50m fund to help make major long term improvements to the capital’s town centres and high streets damaged by the recent rioting.

The funding is in addition to the Mayor’s £50m Outer London Fund, designed to grow economic activity and drive employment in parts of London that are benefitting less directly from major infrastructure improvements.

The fund will invest in larger scale proposals and will build on the momentum created as repair and rebuilding work begins and will ensure the affected areas are not only restored.

The Mayor said: “We have always recognised the importance of improving London’s town centres and clearly after the destruction caused by the recent events across the city this is a bigger challenge than ever. That is why I am allocating £50 million to ensure that these areas are regenerated quickly and transformed into safe, attractive, vibrant and economically successful places to live, work and invest in.”

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