Responding to the Chancellor’s Spring Budget, Ben Rogers, Director at Centre for London said:
“Perhaps the most significant element of the budget, as far as London is concerned, is the chancellor’s announcement that he has further developed a devolution deal for London.
“London urgently needs greater power over its tax base and public services, so this is welcome. But the MOU between London and Central government, included in the Budget papers, does not go far enough.
“It is disappointing to see so little on fiscal devolution, especially over domestic property taxes and housing.
“A number of housing policy reforms are essential to allow London to continue to grow.
“If, as noted in the housing white paper, the government is serious about supporting councils to build more homes with “all the levers at its disposal”, we believe it must unlock London boroughs’ capacity to build more locally and to collaborate in delivery across borough boundaries. This should include relaxing borrowing limits, as well as restrictions around the use of Right to Buy receipt.”
Read Centre for London’s latest housing report, Strength in Numbers: Funding and Building Affordable Homes in London.