The government has announced a £20m fund to help Tottenham and Croydon recover from the damage of last week’s riots, adding to the £50m announced by the London Mayor to support affected businesses in the capital.
The £20m will go into the London Enterprise Fund which falls under the responsibility of the Greater London Authority. The fund will deal with the immediate aftermath of the public disorder, support local businesses and endeavour to boost employment.
A spokesman for the GLA said that it was still “early days” and that it is not yet decided how the money will be distributed or to what types of organisations. He said that there will be consultation with stakeholders in the boroughs as to how best to invest in “long-term infrastructure regeneration” which will guide how funding moves forward.
The new money announced yesterday brings the total value of the London Enterprise Fund, announced by London Mayor Boris Johnson last week, to £70m.
The Mayor said, “We will rebuild and repair every part of our city that has been damaged and help London businesses get back on their feet. For the most badly affected areas, Tottenham and Croydon, it is vital we also use the opportunity to deliver long-term improvements and create new jobs and skills that will benefit these communities for generations to come. With this support from government, we can not only restore these town centres but create better, more prosperous places to live, work and invest in.”