London business backs more tax retention for local government

As councils across London met last month to set their council tax levels for the first financial year ahead, polling released by London Chamber of Commerce and Industry showed that three in five London business leaders think that allowing local government to have greater control over tax levels would have a positive impact on the capital’s ability to meet its infrastructure needs, including housing and transport. The figures are based on polling of over 500 London business decision makers carried out by independent research agency ComRes on behalf of LCCI.

London Buses

Control

In total, 50 per cent of London business leaders think that allowing local government to have greater control in London over tax levels and how these are spent would have a positive impact on London’s ability to meet its infrastructure needs. One in five say this would have no impact. LCCI chief executive Colin Stanbridge, said: “Our polling shows majority support amongst London business leaders for London’s councils to have more control over how the overall tax generated in London is spent. They recognise the positive impact this would have on the capital’s ability to meet its infrastructure needs.

Unique

“Increase devolution from Whitehall will be vital in order for London to tackle its unique set of challenges, particularly as its population is expected to reach 10 million by the year of 2030, which will place an even greater strain on the capital’s infrastructure.”

Polling also showed:

  • 53 per cent of London business decision makers say that allowing local government to have greater control in London over tax levels and how these are spent would have a positive impact on the competitiveness of London’s business environment
  • 48 per cent of London business leaders say that allowing local government to have greater control in London over tax levels would have a positive impact on the ability to train the workforce to meet the skills requirements of London businesses while a similar proportion of London business decision makers say that this would have a positive impact on the transparency and accountability of public spending.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.