Sadiq Khan has set out the three things he wants for London from the autumn budget, which Chancellor John Healey will deliver on 28 October.
The mayor's first ask is fiscal devolution — letting London keep more of what it raises. That includes business rates retention, and an extension of the business rates supplement, the 2p-per-pound levy on larger properties that helped pay for the Elizabeth line and is currently due to expire in 2029.
His second is what he called "sustainable funding to support the housing market" in London, alongside action to bring down the cost of building.
The third is core public services, with Khan pressing for more money for the Metropolitan Police and the London Fire Brigade to make up for what he attributed to "14 years" of Conservative government.
"A third of our core funding has gone," he said. "You won't be surprised to hear that those are the sorts of things I've been lobbying for in advance of the budget next month."
The asks are addressed to Prime Minister Andy Burnham's government, and Khan was warmer about the direction of travel than the shopping list might suggest. He described a "fundamental change" at Westminster that would "free London to do more for itself", and said further powers could include the ability for the mayor to raise taxes and to use new methods of financing infrastructure.
That is the trade-off worth watching. Retained business rates and mayoral tax-raising powers would give City Hall a revenue base less dependent on annual settlements from the Treasury — but they also shift risk onto London, tying the budget for policing, fire and housing more closely to the performance of the capital's own economy.
A Treasury spokesperson declined to comment on the specifics, saying the chancellor remains focused on supporting families, businesses and growth while sticking to his fiscal rules.
