HM Treasury written question – answered at on 13 November 2014.
David Lammy
Labour, Tottenham
To ask Mr Chancellor of the exchequer, whether the Government plans to devolve new fiscal powers to the Greater London Authority.
Danny Alexander
The Chief Secretary to the Treasury
The Government has already devolved significant powers and responsibilities to London. The Government passed responsibility for housing, economic development and the Olympic legacy to London through the Localism Act 2011, in addition to transport, planning and the police already controlled by the Mayor. The Government keeps all decisions on tax policy under review.
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The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.
