Regeneration threatened by Crossrail levy say local councils

The Mayor’s plans to levy a charge on all large central London office developments to help fund the crossrail project are subject to an official hearing. That hearing has heard evidence from Southwark and Lambeth Council who say that areas south of the river should be exempt from the tax. The mayor hoped the levy will raise £300 million on new office blocks over 5,000 sq ft. The Mayor has refused exemption for the Elephant & Castle despite agreeing to exempt the Vauxhall, Nine Elms and Battersea area from the levy.

In a statement the Mayor said that “…while Crossrail will make a substantial contribution to the whole UK economy, London will benefit most and therefore it is right that we pay our fair share of the costs, says Boris Johnson. “In particular, it is fair that developers whose buildings will add to congestion should contribute towards this project, which will make the largest dent on the problem.”

Author: Amy Edwards | | 0 Comments

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