Under the proposals London would be given complete control over property taxes, including council tax, stamp duty and business rates. The London Finance Commission report also recommended giving the city the power to introduce new taxes, such as a levy on tourists, and greater freedom to borrow.
Mr Johnson said there was an "acute need for London to be able to better plan and finance the infrastructure needed to prosper and maintain a great quality of life, in the face of a decade of expansion".
More top news
Detectives investigating the Parsons Green terrorist attack have arrested a 17-year-old boy in Thornton Heath, south London.
A review of the law is being considered after a cyclist who crashed into and killed a mother-of-two was convicted using a Victorian law.
Speaking to ITV News Foreign Office minister Tobias Ellwood said education was the greatest weapon in the fight against extremism.