Boris Johnson, the Mayor of London, has launched the Mayor’s Fund, a new charity designed to improve life chances for disadvantaged young people and their families in the capital. It aims to have an annual turnover of up to £20 million by 2013.
The charity’s Chair is Sir Trevor Chinn and its Chief Executive Chris Robinson.
The Fund will spend £1.5 million in 2009 on initial projects to help disadvantaged youngsters. Next year it will launch an £8 million scheme across four local authorities around Shoreditch and will expand across London by 2013, "tackling poverty in every community".
Mayor Boris Johnson, patron of the Fund, said: "Over 600,000 children live below the poverty line and London is home to some of the most deprived boroughs in the country. Like Robin Hood we want to draw riches from wealth creators to give life-changing support to the poorest Londoners.
"Under the expert eye of Sir Trevor Chinn I have every confidence that the Mayor’s Fund will provide education, life skills and opportunities to children and families in need. I reiterate my plea to the wealth creating sectors in our great city to give back to Londoners in need of help and donate to the Mayor’s Fund."