A group of leading London political and business leaders have written to The Times asking the chancellor to make a ‘sensible decision' and lift the Housing Revenue Account cap in tomorrow's Autumn Statement.

The letter co-signed by Sir Steve Bullock, Lewisham Mayor and London Councils executive member for housing, David Orr, the chief executive of the National Housing Federation, Baroness Jo Valentine, chairwoman of London First and Campbell Robb, chief executive CEO of Shelter, states investment in housing is needed urgently.

‘New homes can help to create jobs, cut benefit bills, form stable communities and address the backlog of housing needs,' the letter stated.