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The report was part of the first-ever capital-wide assessment of violence and an in-depth look at the reviews that take place after each specific homicide.

A new report looking into the causes and impact of violence in London has revealed that violent incidents cost the capital £3bn last year.

The report was part of the first-ever capital-wide assessment of violence and an in-depth look at the reviews that take place after each specific homicide, commissioned by London’s Violence Reduction Unit (VRU) to inform their work.

The VRU, which was set up by the Mayor of London in September 2018, has already been focusing much of its funding on programmes to tackle issues.

So far, the majority of the VRU’s £14.8m has been invested in programmes to tackle school exclusions, community programmes offering positive opportunities for young people.

New figures show that alongside the tragic loss of life and misery that violent crime causes, the economic impact to the capital is also substantial.

Costs in 2018/2019 for responding to violent offences, sexual offences, robbery and homicides together was gauged as a loss of £3bn.

The reviews found that there has been a 47% increase in knife-related homicides since 2016, and between 2014 and 2018, hospital admissions for assaults with a sharp object have increased by 32%.

The reviews also found that the impact of Government cuts is likely to have increased the vulnerability of some neighbourhoods. Between 2011/2012 and 2019, 46% of funding for London’s youth service was withdrawn. This combined with a reduction in police offer numbers has impacted on the police’s ability to disrupt and deter violence.

In response to the findings of the studies, the VRU will be directing £12m of new funding in 2020/2021, secured from investment from the Mayor and the Home Office, in targeted programmes and initiatives. This includes a proposal to direct funding to a new violence reduction programme that delivers interventions in specific local neighbourhoods and estates that are areas identified as most prone to violence.