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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Martin Stew has the forecast: