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London gets new powers on housing and Olympics

Wednesday, 8 February 2012 8:53 AM

London will take control of its Olympic legacy, housing and regeneration under a £3bn deal announced by communities secretary Eric Pickles.

New powers will transfer to the Greater London Authority and mayor from April following the Localism Act 2011.

The deal means mayor Boris Johnson will be accountable for the capital's affordable housing programmes including key sites like Greenwich Peninsula and the Olympic Park in east London.

The £3bn of funding will support his commitment to build 55,000 affordable homes by March 2015 and bring 45,000 existing social homes up to standard across London.

An existing Olympic land and debt deal will be replaced by new receipt sharing arrangements for the Olympic Park.

Johnson said: "We are now in a great position to drive forward vital investment that will deliver more affordable homes across the city, secure a lasting legacy in the Olympic Park and create thousands of new jobs."

Pickles said: "The lasting legacy from the Olympics will showcase the regeneration and house building achievements that ensures London remains a truly great city."

Londoners will elect a new mayor on 3 May this year, with Johnson facing a strong challenge from his predecessor in the job, Ken Livingstone. Housing issues are already featuring prominently in the campaign.

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