London mayor calls for £3bn developer tax to pay for fire safety work

By Joey Gardiner2020-12-29T08:50:00

Sadiq Khan says tariff could be paid over next 10 years

The mayor of London has called for a £3bn levy on housebuilders to pay for the cost of necessary fire safety work on high rises in the wake of the Grenfell tragedy.

Sadiq Khan said a one-off 10% tax on the £30bn of profit made by listed builders over the last decade would raise £3bn that would stop homeowners from facing “extortionate” bills to rectify unsafe homes.

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