The EU social and regional funds are paying into London to help the city’s poorest residents.
The money, which keeps coming until 2013, includes £300 million for skills training, and £100 million for helping business development and community regeneration. That’s good news.
Less good is the reason London qualifies for the money. Alongside much poorer countries, and despite all Labour’s rhetoric, we have 1 in 4 London children growing up in poverty.