Business people

London Finance Commission

The London Finance Commission (LFC) helps the Mayor and London’s local authorities to improve the tax and public spending arrangements for the city - to promote jobs, growth and greater equality.

The Commission was reconvened in 2016 by the Mayor of London, Sadiq Khan to review the fiscal powers – control over taxes and spending - London should have to invest in its infrastructure, deliver public services and to stay internationally competitive.

 

Giving London more control of its economy

The London Finance Commission published its report, Devolution: a capital idea on 27 January 2017. The report builds on the Commission’s previous recommendations and sets out the tax and spending powers London now needs to take control of its future.

This report sets out the benefits of fiscal devolution to London and to Londoners; holding local politicians to account, better quality decision-making and a fairer tax system that supports economic growth.

And this is good for the country - when London grows, the UK grows.

I would like to thank Professor Tony Travers and the

Mayor of London, Sadiq Khan, speaks at a board meeting
London Finance Commission for examining this vital issue of how to ensure London has a stronger voice so we can protect jobs and growth from the uncertainty ahead.

...Now is the time for the Government to seize the moment and unleash the spirit of devolution seen in others parts of the UK.

The capital can continue to drive the UK economy for decades to come. 

          Sadiq Khan, Mayor of London

 

View the press release >>

Background on the 2017 report

In 2016, the London Finance Commission asked London’s businesses and public sector organisations to share their views on the tax and public spending powers London needs.

The Commission heard from across London – its businesses, political leaders and communities and from across the country.

Written evidence

We received 17 submissions from some of London's private and public sector organisations - sharing their experiences, concerns and recommendations.

See the submissions>>

Oral evidence sessions

We held a number of evidence sessions with experts in Birmingham, Manchester , London and a session with London Communities. View the full transcripts for each session below:

The 2013 report: Raising the capital

The report argues that funding arrangements in London should allow London government to make additional self-determined investments in its own infrastructure; both to cater for the growth already forecast for its population and economy, and to promote additional economic growth.