Diversification: Greater London

Department for Business, Innovation and Skills written question – answered on 8th December 2014.

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Photo of Diane Abbott Diane Abbott Labour, Hackney North and Stoke Newington

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.

Photo of Greg Clark Greg Clark Minister of State (Universities and Science), Minister of State (Cabinet Office), Minister of State (Cabinet Office)

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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