Fiscal Devolution

Central London is responsible for a substantial part of total UK tax revenues, driven by the concentration of high value jobs and enterprise within the CLF footprint, which in turn promote high land values that support Stamp Duty and Business Rates receipts.

However, Central London boroughs retain only a small proprotion of the taxes raised, and more importantly the tax system does not always reflect the acute challenges facing CLF employers and residents, such as the growing costs of doing business or living in the capital.

CLF boroughs are therefore working together to identify how fiscal devolution could be used to drive inclusive growth while maintaining the fiscal contribution it makes to the whole of the UK.

Key Resources