Crossrail tariff must not stifle development in London

Crossrail tariff must not stifle development in London

London Councils is calling for the Mayor to make changes to the planning tariff which will fund Crossrail as current proposals could jeopardise office development in parts of the capital.

Under current plans, the funding agreement for Crossrail requires the Mayor to collect £300 million in planning contributions from developers in London.

The Mayor is proposing that this should all come from new office developments in central London and other selected areas.

London Councils supports Crossrail but believes that the current proposals for the tariff will reduce other developer contributions which help fund affordable housing and local improvements.

Developers could also be deterred from building offices which would deprive the capital of much needed jobs and delay London’s economic recovery.

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Source: www.londoncouncils.gov.uk/