Ahead of the 2017 Autumn Budget, Richard Brown, Research Director at Centre for London said:
“By many indicators, London is one of the UK’s biggest successes; the city is home to 12 per cent of the population, drives 25 per cent of the economy, and generates 30 per cent of tax.
“But London is facing some big challenges: a growing population is putting more pressure on infrastructure; housing costs are pushing working Londoners into poverty; and there are still pockets of unemployment across the city. To top it off, we’re facing the continued uncertainties of Brexit.
“The Chancellor should do three things to steady London’s footing in today’s budget: first, he should boost investment in housing by allowing councils to borrow, and funding the Mayor’s programme; second, he should give London control over skills and training budgets, so we can gear up for the challenges of Brexit; and finally, he should let London take back control of property taxes, so that we can fund much needed infrastructure like Crossrail 2.”