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A study by the OECD in 2001 indicated that the UK had one of the strongest links between social deprivation and educational underachievement. This article uses original analysis to report a close correlation over the period 1997-2001 between educational achievement in the London boroughs and various indicators of the extent of social deprivation in those boroughs. When the data are further disaggregated in terms of "inner" and "outer" London locations of those boroughs the so-called "cycle of deprivation" hypothesis is supported still more strongly. The article goes on to discuss the implications of these results for broader policy issues such as central government use of the "standards fund" to target finance to the more deprived schools and the recently announced government decision to appoint a commissioner to improve standards in London schools. [ABSTRACT FROM AUTHOR]