By Max Clarke

London’s dilapidated town centres are to be given a £50million investment to fund long-term regeneration works.

The funding is in addition to the Mayor's £50 million Outer London Fund, designed to grow economic activity and drive employment in parts of London that are benefitting less directly from major infrastructure improvements like Crossrail and the 2012 Games.

20 boroughs have already received £10 million to improve their high streets and town centres. Projects benefitting include expanding Haringey’s Green Lanes Food Festival and creating Bromley Town Centre’s Heritage Trail and a further £40 million will be awarded later this year.

“We have always recognised the importance of improving London's town centres,” said London’s Mayor Boris Johnson, “and clearly after the destruction caused by the recent events across the city this is a bigger challenge than ever. That is why I am allocating £50 million to ensure that these areas are regenerated quickly and transformed into safe, attractive, vibrant and economically successful places to live, work and invest in.”

Boris’ pledge comes after the Government’s riot support package which earmarked £20 million for damaged high streets, as well as a host of other incentives designed to hasten their return to business.

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