FlyTheNest

Now he’s prime minister, Burnham has pledged to give mayors a share of both business rates (the equivalent of council tax charged on commercial properties) and income tax (paid by individuals) raised in their areas.

The exact details of how this would work and how much money London would get to keep remain to be seen. The capital’s relative wealth means it massively cross-subsidises the rest of the UK. Retaining even a small percentage of income tax could be a game changer. For instance, according to our analysis of HMRC figures, the 119,000 residents of Camden who pay income tax contribute more (£4.7bn) than all the residents of Birmingham and Glasgow combined (£4bn).

How many people commute into London from outside?
Around 722,000 people travelled from outside London into London to work with over 350,000 of these travelling into Central London. Over 1.5 million people commuted to Central London altogether, including those who also lived in Central London. Around 23 per cent of these workers were resident outside London.