Mayor wants capital to keep more of its money

Boris Johnson wants the power to tax and spend like Scotland and Wales.

He's also asking the government to let the capital keep more of the money it raises -- rather than share it with the rest of the country.

He says the current system is "simply not fit for purpose" given London's size and stature.Our Political Correspondent Simon Harris reports

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Financial freedom for London

London Mayor Boris Johnson has backed a report calling for the capital to be given greater financial freedom in order to fund major infrastructure projects.