Transport · 9 hours ago
London Mayor gets £10 billion for Bakerloo Line extension.
Photo by Mingyang LIU on Pexels
Mayors are to retain an increased portion of growing local income tax and implement tax increment financing, which involves using projected property-tax revenue to cover initial expenses. Sources familiar with the matter say this gives Khan around £10bn in extra borrowing capability. The Bakerloo Line is set to extend from Elephant and Castle to Lewisham, incorporating new stops at Burgess Park and Old Kent Road.
Reported by City AM · How we write briefs