Responding to today’s Spending Review, Richard Brown, Deputy Director at Centre for London said:
“The Chancellor’s announcement of a ‘Levelling Up Fund’ chimes with Centre for London’s proposal of a Community Wealth Fund to support neighbourhood development. This should be available nationwide – including for many of the country’s poorest communities that are peppered across London and the south east.
“But with short timescales and a limited pot of £4 billion, it will be tough for many communities to prepare and submit bids for projects that will really have an impact, even with support from elected local councils. Addressing local needs will be better achieved through long-term devolution to councils and communities, not through bidding for a gracious disbursement of funds from Whitehall.
“Support for lower-paid public sector workers will also be important, particularly for London’s FE sector, which has seen sharp falls in pay in recent years, and will play a particularly important role in helping London’s and the UK’s recovery.”
Notes to Editors
- Centre for London is the capital’s dedicated think tank. The Centre develops new solutions to London’s critical challenges and advocates for a fair and prosperous global city.