Member

The Government already provide capacity funding to mayoral strategic authorities, which they can spend flexibly in line with their priorities. This Bill is also extending new ways for authorities to raise revenue to fund their activities. Several authorities are already bringing forward development corporations where they are deemed to be a local priority. The Government already have the ability to provide additional funding to support the creation of mayoral development corporations and, once established, to provide funding to support land acquisition. The Government also already provide guidance on the governance of mayoral development corporations and on planning policy generally. Where we determine that further guidance is needed, we will step in to provide it. I hope that reassures the noble Lord that the Government already have the ability to assist with the creation and operation of mayoral development corporations.