Jeremy Hunt announced that £242million will be handed to Canary Wharf for "levelling up", prompting fury online.
The Chancellor announced that the London financial centre and the surrounding area would be given millions, as part of his Spring Budget.
The money will support the building of 8,000 homes at Barking Riverside and Canary Wharf in east London.
"Together [this] will build nearly 8,000 houses as well as transform Canary Wharf into a new hub for life science companies," said Hunt.
Jeremy Hunt has handed £242million to Canary Wharf for 'levelling up'
Getty/GB News
The announcement has caused a wave of backlash online.
Tim Farron, former leader of the Lib Dems, said: "Brilliant levelling up news for the rural left-behind Northern town of Canary Wharf...."
Liz Savile-Roberts, a Welsh MP, said: "Congratulations to Canary Wharf which today receives £242m of investments in levelling up funds Westminster's priorities are clear for all to see."
Jack Brown, a lecturer in London Studies at King's College London, added: "There will be plenty of mockery of 'levelling up' money going to Canary Wharf - of course! But new housing is desperately needed in London - housing crisis a huge hindrance on economic growth AND a major driver of poverty and inequality here too."
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The money will support the building of 8,000 homes at Barking Riverside and Canary Wharf in east London, Hunt said
PAOutraged users also took to social media to vent: "Do the billionaire owners of Canary Wharf really need this money?", one user said.
Another added: "£242m of levelling up funds for Canary Wharf? Give over. Election please", whilst a third joked: "Canary Wharf classically being a place in desperate need of levelling up..."
"I didn’t have regeneration funding for Canary Wharf on my bingo card," a fourth quipped.
Hunt also announced investments in Blackpool, Sheffield and Liverpool.
The announcement has prompted a wave of backlash
PAHe said: "We are launching a new £20m Community Led Housing scheme supporting local communities to deliver the developments they want and need."
Other levelling-up measures included £100million for areas including High Peak, Dundee, Conwy, Erewash, Redditch and Coventry to support “cultural projects”.
Barking Riverside is one of London’s largest micro towns planned for the city.
Half of the homes at Barking Riverside, one of Europe's largest brownfield regeneration projects, have been designated as affordable.