Yesterday's Autumn Statement came at a challenging time for London. The capital's growing population is facing spiralling house prices, and putting pressure on infrastructure and services - from homelessness and social care to transport.

The chancellor’s housing announcements took centre stage. The London Help-To-Buy scheme will raise the equity loan available for new homes from 20 to 40%, reflecting the limited impact of the scheme in London to date. But the long-term impact on affordability is more questionable. If the scheme does not stimulate extra supply it will merely inflate a house price bubble.