Boris Johnson, London mayor, is facing a backlash from business against plans to raise more than £4bn from the capital’s hard-pressed companies to fund the Crossrail scheme.

The British Retail Consortium warned there would be 'considerable opposition' to the proposal to levy a business rate supplement from April.

The retailers’ body predicted that Mr Johnson’s plan, issued yesterday, to impose the maximum allowable 2p in the pound uplift on rates risked undermining companies’ recovery.

Financial Times