“The London Finance Commission, chaired by London School of Economic’s Professor Tony Travers, has released a new report calling for greater financial freedoms for the capital, giving London government the autonomy to invest in its own vital infrastructure as its population and economy grow, and bring London in line with competitor global cities. The London Finance Commission’s report, Raising the Capital outlines a comprehensive package of devolution measures to give Londoners a more direct say over a greater proportion of taxes raised in their city. It concludes that London government could better promote its own economic development by devolving financial and fiscal control rather than relying on the current formula of majority Government grant. The Commission has established there is a broad consensus amongst the capital’s key organisations in support of reform.”
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