Lyons report – responseMarch 22, 2007
Baroness Jo Valentine, Chief Executive of London First, responded to the publication today of Sir Michael Lyons’ Review of Local Government Funding. She said:
“For London First, it’s a watershed moment. We are delighted. London First helped Sir Michael’s team engage with business in London. We pressed for supplementary business rates for local infrastructure investment, building on the proven Business Improvement District model, subject to acceptance from business. We also argued that local authorities should receive a large share of business rate receipts from new development. In both cases, the Lyons report accepts our argument.
“So, Lyons has reported and delivered what we were asking for. The last excuse for delaying Crossrail is removed. Now we need to sort out the funding. We are in favour of greater fiscal autonomy for London. But, though Red Ken has come a long way, he can’t speak for London’s business community! We need a tripartite negotiation with Government, the Mayor and business to settle the precise funding arrangements for Crossrail.”