An independent commission to explore London’s funding settlement with national government is at the centre of proposals contained in Boris Johnson’s economic manifesto.
The Mayor, who is campaigning for re-election to City Hall, says negotiations with Ministers to secure funding for major projects has persuaded him “that we need to look at how Greater London is funded.”
With Londoners subsidising the rest of the UK by up to 20%, Mr Johnson says: “It is time to review the funding arrangements for London to ensure that London gets a fair share, recognising its significant contribution to the UK’s economy and tax base.”
Mr Johnson says his commission would seek “to make sure that London’s funding sources are put on a secure long term footing, giving the Mayor and the people of London increased certainty. It will examine whether it is time we should keep more of the taxes Londoners pay in London. This will effectively propose a Barnett style formula for London.”
The Mayor has also promised to create 200,000 apprenticeships “directly through City Hall programmes” and to help parents back into work.
Candidates for Mayor include Jenny Jones (Green party), Ken Livingstone (Labour), Lawrence Webb (UKIP) and Boris Johnson (Conservative) and Brian Paddick (Liberal Democrat). A full list of candidates can be found here.