Tag Archives: tax increment financing powers

Andrew Stunell MP writes: Re-localisation of business rates will give councils real financial freedom

Yesterday’s announcement of our plan to re-localise business rates is one of the most significant reforms announced by the Coalition so far. Ok, not as newsworthy as the phone hacking scandal, but it’s big news for local democracy nonetheless. It marks another fundamental shift from central control to local responsibility.

Under the current local government funding system, Whitehall dishes out grant allocations to councils each year based on an incomprehensible formula that is far too complex and lacking in transparency. Most of this money is funded by the business rates, collected locally, but funnelled centrally, and then reallocated. Councils are left at the whim of the formula-setter in Whitehall, and there is no incentive to promote business growth either. All you get are the extra HGVs, but none of the rates income! All this is about to change.

So what are the main things that Liberal Democrats need to know?

Posted in Local government | Also tagged | 13 Comments

Full text: Nick Clegg’s speech to Liberal Democrat Autumn Conference

Speaking at Liberal Democrat Autumn Conference today , Liberal Democrat Leader and Deputy Prime Minister Nick Clegg will say:

Two and a half years ago, I stood in this very hall to make my first speech as Leader of our party. I said that the chance for change was within our reach, and we had to seize it. That chance came. Perhaps not quite in the way many of us could have expected.
But the chance came and you – we – responded with real courage and conviction.

Cynics expected us to back away. Instead, we confounded those who said …

Posted in Conference | Also tagged and | 7 Comments
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