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We consulted over the summer on our proposals for business rates retention which would enable councils who succeed in growing their local economy to get a direct boost to their income.
This document sets out the government’s response to that consultation and how the business rate retention scheme will operate to create a direct financial incentive for local authorities who grow their economies that is both deliverable and sustainable. It also sets out how we will ensure that all authorities have sufficient resources to deliver local services.
This consultation seeks views on the government’s proposals to change the way local government is funded by introducing retention of business rates.
It also seeks views on options for enabling authorities to carry out tax increment financing within the business rates retention system.