The Chancellor is being urged to support Croydon’s regeneration project by giving the borough more power over its business rates, stamp duty and new homes.

Council bosses have written to George Osborne, asking him to grant Croydon more devolved powers when he makes his Autumn Statement on Wednesday, December 3.

Jo Negrini, the borough’s executive director of development and environment, will also outline Croydon’s hopes for devolution at the Develop Croydon Conference which takes place at Fairfield Halls on Tuesday, November 25.

Ms Negrini said: “Develop Croydon, the best collection of developers currently in Croydon, is working with us and that’s because we can develop a programme the size of Ebbsfleet in half the time.”

The fifth Develop Croydon Conference will be opened by Ric Blakeway, the deputy mayor of London for housing, and chaired by journalist and broadcaster Mark Easton.

The conference attracts in excess of 300 delegates for its debates about Croydon’s future.

In a letter to Mr Osborne, Develop Croydon Forum chairman Richard Plant, wrote: “To unlock this investment, the Croydon Growth Zone needs devolved tax powers, including a Stamp Duty pilot and the retention of all uplift in Business Rates from new commercial development.”

As part of the regeneration project and the push for more local power for Croydon, the council leader, Councillor Tony Newman, has launched the borough’s Growth Zone proposal called Our Time is Now.

Councillor Newman said: “Our Time is Now, our proposal to help fund this ambitious programme, asks Government to pilot the devolution of locally generated tax revenues to enable further Growth in Croydon.”

The Chancellor’s Autumn Statement in December is the second of the two most important economic statements that the chancellor gives every year, the first being the Budget.