Tech City has already been credited with helping the capital avoid the worst of the recession, and it's now getting £50 million to become a world class centre for technology, and the next generation of entrepreneurs.
Prime Minister David Cameron and Mayor Boris Johnson announced the investment today to transform Old Street roundabout in East London, into "Tech City". Paul Brand reports.
More top news
Turning cloudy and windy but feeling mild at the weekend.
The Ukip leader also says his children his hid in a graveyard and were brought back by police.
Here's a borough-by-borough breakdown of the official figures.