Responding to the publication of the Government’s English Devolution White Paper – which follows release of BusinessLDN’s New Deal for London Report earlier this year – John Dickie, Chief Executive of BusinessLDN, said:
“The Government is right to recognise that handing power from Whitehall to local leaders that know their area best is vital to boost growth. Giving London – and other city-regions – the tools they need to accelerate delivery of housing, infrastructure and skills is a must if Ministers are to achieve their ambitious milestones.
“London has one of the oldest devolution settlements in England but it has not kept pace with the more recent trailblazer devolution deals for Greater Manchester and the West Midlands that give those regions greater autonomy and certainty over funding. With the 25th anniversary of London Mayoralty fast approaching, it is now time for the city to be given the powers and resources necessary to fire on all cylinders as the engine of growth for the UK.
“The gamechanger would be further fiscal devolution, which the White Paper commits to exploring for London. The capital should be granted a consolidated, long-term budget like departmental budgets with freedom on how to spend it like Greater Manchester and the West Midlands. London should also be able to retain business rates growth in full to give local leaders the incentive to drive growth and the resources to manage it.”