Diversity of London's Economy

Diane Abbott MP

To ask the Secretary of State for Business, Innovation and Skills, what steps his Department is taking to diversify London's economy; and if he will make a statement.

Answered by: Greg Clark MP on 08 December 2014

The Mayor has a statutory responsibility for economic development in the capital. It is for the Mayor, advised by the London Enterprise Panel, to determine priorities for economic development in the capital and to use the resources available to support economic growth in London.Last summer London was awarded £236m from the Local Growth Fund, as part of their Growth Deal. A further £1billion will be awarded to LEPs in the New Year, on a competitive basis.

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