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Boris bids for stamp duty revenues

Should money made in the capital stay in the capital? Boris Johnson thinks so.

He's wants the Government to give London the 1.3 billion pounds raised here through Stamp Duty every year.

With property prices traditionally higher than anywhere else in the country, the Mayor thinks the money made selling flats and houses should benefit Londoners, and be used to build more so-called affordable homes.

So is this the right way to solve the housing crisis?

Here's Rags Martel.

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Where's affordable housing being built near you?

Let us know by joining in the debate on our Facebook page.

Mayor demands "tools to solve crisis"

Mayor wants all stamp duty receipts to go to City Hall

Boris Johnson is asking the government to let London keep all stamp duty raised on its property sales - estimated at around £1.3 billion a year. He wants the money to be able to build a million homes by the mid 2030s.

The Mayor claims that this arrangement would give the capital a stable income to create a 25 year plan that would solve the capital's housing needs, create hundreds of thousands of long-term jobs and give a massive boost to the economy.

"Give London the tools and we will solve its impending housing crisis", said Boris.

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Johnson says plans will mean up to 40,000 new homes

Our Political Correspondent attended the briefing in which the Mayor revealed he also wants to get his hands on government owned property in the capital.

Boris outlines plan to tackle housing crisis

The capital's mayor, Boris Johnson, is today outlining his plans to solve London's housing problems.

The Mayor believes that the lack of housing in the capital could be a drag on it's economic growth, and that a dramatic acceleration of house building is needed over the 25 years.

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He'll set out what he believes needs to be done to house the capital's ever growing population

There's speculation that he's going to ask the government to give him the proceeds from stamp duty in the capital to spend on creating new homes.

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