William Eichler 15 February 2018

£140m investment ‘fantastic’ example of devolution in action, Khan says

£140m investment ‘fantastic’ example of devolution in action, Khan says   image

The mayor of London has announced a £140m investment boost to help fight the capital’s housing crisis and improve the economy.

The funds are the result of a devolution agreement struck by the mayor and London Councils with the Government last year which will allow them to pilot the retention of 100% of business rates growth from this April.

This agreement will raise an additional £114m for the Greater London Authority in 2018-19. Sadie Khan has agreed to add an additional £26m to this pot.

The money will be spent on initiatives that will grow London's economy such as new commercial space and transport infrastructure. It will also be used to help tackle the housing crisis.

‘This is a fantastic example of devolution in action as it shows that when tax revenues are devolved to London government we are able to focus investment on the things that matter most to Londoners, including key infrastructure and support for businesses,’ said Mr Khan.

‘It also shows that it is possible for London’s boroughs of different political persuasions to come together and work with Government to act in the best interests of the entire city.’

The mayor also announced that a separate ‘collective strategic investment’ pot using 15% of the business rates growth generated from the 100% pilot will also be created.

Decisions on how this will be allocated will be made by the leaders of the capital’s 33 local authorities and the mayor collectively during 2018-19.

Cllr Claire Kober OBE, chair of London Councils said: ‘We know that London’s councils are best placed to deliver on behalf of their communities, and this additional funding underlines how much can be achieved when all of London’s boroughs work constructively together in the best interests of the capital’s residents and businesses.

‘This underlines how much can be achieved through devolved powers. The time is right for central government to give further powers to London, including the freedom to develop a fairer business rates system that can help the economy to grow and thrive.’

Fair funding delay image

Fair funding delay

The delay to the fair funding review can only add to anxiety over the future of local government, says Mark Whitehead
Highways jobs

Senior Traffic Engineer

East Riding of Yorkshire Council
£32,029 - £34,788 per annum
Currently seeking an enthusiastic and experienced individual to manage our Traffic Team. East Riding of Yorkshire
Recuriter: East Riding of Yorkshire Council

Youth and Community Based Commissioner- Colchester and Tendring

Essex County Council
£18117 - £19106.0 per month
Annual Salary JNC SCP 3 - Unqualified £18,117JNC SCP 6 - Qualified £19,106 We are currently seeking a Youth and Community Based Commissioner to suppo England, Essex, Colchester
Recuriter: Essex County Council

Networks Technician

Essex County Council
£24001.0 - £28280 per annum
Technology Services is focused on ensuring current and future investment in technology to maximise the opportunities to support ECC from a technology England, Essex, Basildon
Recuriter: Essex County Council

Youth Worker x7

Sandwell Metropolitan Borough Council
£18,795 - £19,945 per annum
Looking for a Youth Worker who can meet the needs and aspirations of young people and deliver high quality Youth Work. Sandwell, West Midlands
Recuriter: Sandwell Metropolitan Borough Council

Customer Specialist

Essex County Council
£20001.0 - £22220.0 per annum
Essex County Council (ECC) are currently recruiting for a Customer specialist within the Technical Processing and Optimisation Team. The Team is respo England, Essex, Chelmsford
Recuriter: Essex County Council

Local Government News

Latest issue - Local Goverrnemnt News

This issue of Local Government News explores how councils can tackle modern slavery and trafficking in their supply chains, finds out more about Cambridge's first cohousing scheme and the launch of a new project to build a shared service pattern library for local government.

This issue also contains a special focus on children's services and how councils are protecting children following local safeguarding children boards being abolished.

Register for your free magazine