00:00London is calling for more control over its own finances, as new research highlights the
00:06limits of City Hall's tax powers compared with other major global cities. Incoming Prime Minister
00:12Andy Burnham has promised more devolution across the UK, with mayors given greater responsibility
00:18for local decisions. The research says London relies heavily on central government funding
00:24and has fewer tax powers than similar cities overseas. Supporters say greater fiscal freedom
00:30could help fund investment in housing and transport and boost growth. Critics of wider devolution say
00:37changes must protect fairness between areas. The government has yet to set out detailed plans
00:43for these reforms.
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