Mayor of London Sadiq Khan has reconvened a group of finance experts which previously recommended wide-reaching property tax devolution for the capital.
The London Finance Commission, a body of political and business leaders which in 2013 argued for the devolution of council tax, stamp duty land tax and business rates, is to be reformed and tasked with bringing forward a new set of “beefed-up” devolution proposals.
Khan has commissioned Tony Travers from the London School of Economics to reconvene the London Finance Commission and report back with wide-ranging devolution requests that will be reported to ministers.
Khan said: “It is vital that we have greater control over how the capital is run – so we have more control over the things we need to improve our city such as skills training, housing, business rates and the tools to tackle air quality, health and crime.”
Travers said: ““More than ever before Londoners need their city’s government to be agile and to have the power to use taxation generated locally to promote economic growth.
“London would not take more of the nation’s resources, but use the existing tax and spending better.”
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