A new tax on land in London could boost the construction of more than 200,000 homes, according to a member of the capital's assembly.
Laboour London Assembly member Tom Copley says current tax and business rates discourage development because they are imposed only on occupied and developed land.
His report, 'Tax Trial: Land Value Tax for London?', says some sites are underused as car parks or remain as lots with demolished buildings instead of being used for housing.
It says the next London mayor should identify what further devolved powers will be needed to bring in the new tax.
Mr Copley said: 'The greatest challenge facing the next Mayor will be achieving a step change in the level of housebuilding in London.
'London needs to maximise sites available for housing and infrastructure.
'A land value tax could provide the solution, and this report examines its potential to bring more land forward for development.'
