U.S. Markets open in 7 hrs 4 mins
  • S&P Futures

    3,601.50
    +25.50 (+0.71%)
     
  • Dow Futures

    29,783.00
    +237.00 (+0.80%)
     
  • Nasdaq Futures

    11,970.00
    +64.75 (+0.54%)
     
  • Russell 2000 Futures

    1,837.90
    +20.80 (+1.14%)
     
  • Crude Oil

    43.52
    +0.46 (+1.07%)
     
  • Gold

    1,828.90
    -8.90 (-0.48%)
     
  • Silver

    23.51
    -0.12 (-0.50%)
     
  • EUR/USD

    1.1854
    +0.0008 (+0.0711%)
     
  • 10-Yr Bond

    0.8570
    0.0000 (0.00%)
     
  • Vix

    22.66
    -1.04 (-4.39%)
     
  • GBP/USD

    1.3339
    +0.0017 (+0.1294%)
     
  • USD/JPY

    104.4500
    -0.0380 (-0.0364%)
     
  • BTC-USD

    18,389.64
    +57.13 (+0.31%)
     
  • CMC Crypto 200

    368.31
    +6.88 (+1.90%)
     
  • FTSE 100

    6,333.84
    -17.61 (-0.28%)
     
  • Nikkei 225

    26,165.59
    +638.22 (+2.50%)
     

Britain looking at forcing down costs of London Mayor's office, minister says

·1 min read

LONDON, Oct 21 (Reuters) - The British government is looking at forcing the body responsible for running London to sell off land or cut running costs because it believes the city's mayor has left it bankrupt, a minister said on Wednesday.

Housing minister Robert Jenrick said the government was not actively considering higher taxes but said: "We do have to resolve the fact that the mayor has bankrupted TfL (Transport for London), and the Greater London Authority."

"There has to be a resolution with him, but it doesn't have to be purely about Londoners to pay high taxes. It can also be for example.. selling off TfL land so we get homes built in parts of London, there's a lot of opportunity to do that. It can also mean bearing down on some of the costs."

TfL's income has plunged after commuters avoided public transport during the pandemic. (Reporting by Kate Holton and Sarah Young; editing by Guy Faulconbridge)