The consultation sets out issues that need to be considered prior to implementing the Government's proposals on further business rate retention.
The consultation sets out issues that need to be considered prior to implementing the Government's proposals on further business rate retention. It considers a range of aspects of reform to inform the upcoming Local Growth and Jobs Bill, which at the moment is expected to be tabled in early 2017. Our briefing summarises the content of the Government's consultation and the early LGA view.
This Government consultation is an important step on the road towards further retention of business rates, something which has been long called for by local government. It poses a series of open questions and it is important that the views of councils are heard and central in shaping how the new system works. This is vital to ensure it maximises the potential it offers to our local communities and businesses.
It is important for the new system to be implemented in a way which balances rewarding councils for growing their local economies but avoids areas less able to generate business rates income suffering as a result.