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London First responds to the Autumn Statement

The Autumn Statement and the National Infrastructure Plan contained some notable positives for London. These included:

  • Confirmation of support for Barking Riverside Overground extension
  • £2m further support for Crossrail 2 business case
  • stamp duty reforms on residential property that will see us move from a ‘slab rate’ to only paying the rate of tax on the part of the property within each tax band
  • Boosts to housing supply, such as the £150m of funding earmarked for spending on regeneration work across four major housing estates in the capital
  • A review business rates – an increasingly distorting and dysfunctional tax
  • Investment in the so-called “Olympicopolis” scheme, which will create a new higher education and cultural quarter at the Queen Elizabeth Olympic Park

For our analysis of the good, bad, and ugly of the Autumn Statement and National Infrastructure Plan, please see our press release

Contact: Sian Morgan, smorgan@londonfirst.co.uk

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