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Next Mayor'needs far bigger cut of tax take'
Evening Standard
|April 02, 2024
THE next Mayor of London must be granted sweeping new powers to keep and spend the tax revenues raised in the capital for investment in Britain's powerhouse regional economy, a major business group said today.
BusinessLDN said in its "Manifesto for the Next Mayor of London: Building a capital fit for the future" that an energetic campaign for far greater devolution to City Hall must a priority for the next incumbent at City Hall starting after the election on May 2.
It pointed out that currently the Mayor and boroughs keep only a "tiny" 7% of the tax revenues raised in London, compared with about 50% in New York.
This story is from the April 02, 2024 edition of Evening Standard.
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