Responding to the Government’s Fair Funding Review 2.0 announcement, John Dickie, Chief Executive of BusinessLDN, said:
“The ambition to make the local government funding system simpler, more stable and fairer is long overdue and welcome. Changes to the funding formula to better reflect housing costs will help to better measure deprivation, while enabling local authorities to retain all additional council tax from new homes should help spur development and growth. The devil will be in the detail but it is vital that London boroughs have the requisite funding they need to provide services that underpin investment and growth following these reforms.”