Croydon LBC is lobbying ministers to devolve rights for it to collect a raft of local property taxes on new developments, to help self-finance a £5.25bn regeneration programme.

The Croydon Growth Zone is designed to create up to 8,300 new homes and 23,600 new jobs by and local leaders, supported by the office of London mayor Boris Johnson, have asked the Government to let the borough ring-fence up to £100m in stamp duty over the next two decades and keep all business rates uplift – which estimates suggest could reach £30m annually by 2031.