Devolution of Powers

Part of Oral Answers to Questions — Deputy Prime Minister – in the House of Commons at 11:30 am on 13th May 2014.

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Photo of Greg Clark Greg Clark Minister of State (Cabinet Office) 11:30 am, 13th May 2014

My hon. Friend is a great champion of empowering our great cities—he is a distinguished leader of a London council—and he knows we have made great progress in this area. He will know that the devolution of business rates, for example, allows London, and other parts of the country, to keep 50% of business rate income. That is worth £3 billion a year to London, and those retained business rates have helped to pay for the £1 billion Northern line extension to Battersea, so this is working in London.