London's Benefit Cap and Housing Allowance Calls for Change

AI Summary

The London Chamber of Commerce, representing 12,000 businesses, expressed that small firms are struggling with uncertainty regarding tax and regulation, which could impact business viability. Sophie Livingstone from the charity Little Village emphasized the need to scrap the child benefit cap and improve the local housing allowance to support families. A local think tank is advocating for greater fiscal devolution in London, comparing the mayor’s budget retention in New York at 70%. These discussions could potentially shape government policy affecting economic stability and growth in London.