New Homes Bonus

In 2015-16, £70 million of London boroughs' New Homes Bonus (NHB) allocation is being topsliced and pooled for use on a programme of projects across London agreed by the London Enterprise Panel (LEP).

The funding that each borough contributes to the topslice will be returned to that community through this process. 

There are seven themes for the NHB LEP programme, based on the LEP’s Jobs and Growth Plan. These are:

  • Apprenticeships, skills and training
  • Business support
  • Digital, creative, science and technology
  • High streets
  • Places of work – suitable and affordable workspaces for SMEs
  • Resilience and low carbon
  • Unlocking development

The borough-led programme should create over 800 jobs, place more than 6,000 Londoners into work and generate more than 2,000 apprenticeship opportunities. It should support over 6,000 businesses and create or improve 180,000 sqm of workspace/commercial space.

The initiatives, which will start in 2015, have been developed by boroughs, in partnership with the London Enterprise Panel, the Greater London Authority and London Councils.