London LEP given green light

17 Feb 11
A new Local Enterprise Partnership for London was approved yesterday
By Lucy Phillips

18 February 2011

A new Local Enterprise Partnership for London was approved yesterday.

Ministers announced that the London Enterprise Partnership had been given the green light, taking the total number of LEPs to 31.

The government also opened bidding for a £4m Capacity Fund for LEPs, announced last month by the prime minister.

The new LEP will be co-chaired by Mayor Boris Johnson and a leading business figure, who, along with the rest of the board, has yet to be appointed. Business leaders from the capital will make up most of the board while councils will be represented by leaders of three London boroughs. Third sector and higher education bodies will also be in the mix.

Ministers said the London Enterprise Partnership would build on the mayor’s economic development strategy, which includes: promoting London as the world capital of business; increasing economic opportunity; ensuring London is one of the world’s leading low-carbon capitals; and maximising the return from investment in the London 2012 Olympics. 

Decentralisation minister Greg Clark said: ‘This partnership has the ambition, big ideas and clout needed to create economic growth in the capital from the ground up.

‘Local councils, local business and civic leaders who know their area best are coming together to take the reins of their local economy and ensure its future success.’

LEPs, which replace regional development agencies, are part of the reforms included in the government’s local growth white paper. Almost 90% of the population in England is now covered by an LEP, the government said.

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