London Finance Commission The London Finance Commission (LFC) helps the Mayor and London’s local authorities to improve the tax and public spending arrangements for the city - to promote jobs, growth and greater equality. The Commission was reconvened in 2016 by the Mayor of London, Sadiq Khan to review the fiscal powers – control over taxes and spending - London should have to invest in its infrastructure, deliver public services and to stay internationally competitive. Giving London more control of its economy The London Finance Commission published its report, Devolution: a capital idea on 27 January 2017. The report builds on the Commission’s previous recommendations and sets out the tax and spending powers London now needs to take control of its future. This report sets out the benefits of fiscal devolution to London and to Londoners; holding local politicians to account, better quality decision-making and a fairer tax system that supports economic growth. And this is good for the country - when London grows, the UK grows.