Good Growth Fund

Questions to the Mayor of London – answered on 18th September 2020.

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Photo of Susan Hall Susan Hall Conservative

What is the total funding pot for the Good Growth Fund? How much of this fund has been spent to date? How much money remains in the fund? Has any of this funding been reallocated to other projects, and if so how much?

Photo of Sadiq Khan Sadiq Khan Mayor of London

The Good Growth Fund has allocated £75 million across 3 rounds to 138 projects across London.

80 of these will receive a share of £72 million to deliver capital projects that help empower people, make better places and grow prosperity across London. 56 of these are development projects, which will each receive a share of £3 million. Development projects enable us to work with a broader range of partners to generate a pipeline of robust and varied projects across London.

The fund is fully committed, meaning there is no budget to be reallocated, without either withdrawing from signed contracts or withdrawing money from organisations that have a reasonable expectation of receiving it based on round 3 award decisions.

To date £22.2m of committed funding has been spent - broadly in line with forecasts.