Responding to the Local Growth and Jobs Bill, as set out in the Queen’s Speech, Mayor Jules Pipe, Chair of London Councils, said:
“We have long been calling for councils to be able to retain the business rates they raise, and we’re pleased that this Bill paves the way to making this a reality.
“Fiscal devolution offers London – and areas across the country – a great opportunity to create a finance system that helps councils to achieve sustainable economic growth.
“But, to be a success, it is vital that councils have real local control of both their rates and the services they pay for. We look forward to continuing to work with government to create a genuinely devolved approach that would not only benefit Londoners, but the country as a whole.’