Boris's £23m for small firms

Boris Johnson today announced a £23million package to help support small businesses in the capital through the economic downturn.

Speaking at the annual meeting of the London Development Agency, the Mayor unveiled a range of measures including more than half a million pounds for Visit London's promotion of the capital overseas.

Further LDA investment will see £2million being put into adding capacity on the Docklands Light Railway to Beckton - helping promote jobs in the area.

The agency plans to invest another £20million, of its £450million annual budget, in business support.

This will include access to a range of finance programmes for start-up companies as well as small and medium-sized businesses.

Mr Johnson said: "It has been encouraging over the past six months to see real achievements and a new outlook implemented at the LDA." He said the agency had been refocused on promoting employment and economic growth. "It gives a focus on the key issues for the capital's residents and businesses, helping to ensure that our city emerges in a stronger position once the upturn arrives."

The agency will also hold a series of business recovery seminars, run by KPMG and Deloitte, and fund schemes to help people find work. It will target people who just have lost - or are about to lose - their jobs, to help get them back into work as quickly as possible.