Boris Johnson should reduce the burden faced by office developers in helping fund Crossrail by levying a charge on developers of retail and hotel projects according to London Councils, the body which represents the capital’s local authorities.
Under current rules all new office developments in central London will be required to pay a levy to help fund the scheme. In addition the Greater London Authority has been given the power to raise a supplement on the business rate.
Stressing their support for the scheme, London Councils has called on Mayor of London Boris Johnson to reduce the amount paid by any one development by extending the charge to other developments such as retail and hotels.
The body says it fears the charge could “put developers off building” and has urged Johnson to keep the impact of the charge on development under review.
London Councils’ Chairman, Councillor Merrick Cockell, said: “Crossrail will be of immense benefit to London and its surrounding areas, providing quick and easy access from the capital to the rest of the South East.”
“This is not just about the bigger picture. Londoners also need their local areas to prosper. The Mayor must understand that the benefits of Crossrail do not outweigh the need for affordable homes and local transport improvements in the capital.”
