"There are huge opportunities for savings and economies of scale in moving the functions of the LDA into the GLA. If the Mayor gets things right we really could deliver more for less in supporting businesses and economic regeneration.
"It is also vital that the new arrangements deliver real accountability and democratic scrutiny of public spending. The days of the opaque decision making of the LDA should soon be history.
"Of course more details of the Mayor's proposals are needed but at this stage we should recognise the golden opportunity to deliver far more London