LDA launches investment consultation

The London Development Agency is launching a consultation on its investment strategy, despite the fact that it will cease to exist by 31 March 2012.

The LDA is set to be folded into the Greater London Authority, with Erika Lewis, LDA director of corporate strategy, saying, ‘We expect the Mayor to be given more powers to provide simpler governance and greater transparency and accountability to Londoners.’ The LDA says its functions will continue after it becomes part of the GLA.

It also says that its budget has been reduced by 20 per cent in 2010/11 and that it has moved to become a catalyst and enabler of projects rather than a funding body.

The LDA is now seeking opinions on its investment strategy, which it says ‘sets out the strategic direction the LDA will take to invest, innovate and influence for the capital’s economic development’.

For more information on the consultation, which is open until 10 November, visit http://www.lda.gov.uk/work-with-us/consultation/investment-strategy-consultation.aspx.

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