Business rates devolution could ‘have big impact on financial risks’ for councils
by Sam Popper on October 7, 2016, posted in London categories
A revaluing of business rates due will mean an even greater dependence on London for taxes, according to Centre for Cities. The only region that will see its business rates levels go up is London, with most other regions in the UK set to see a decrease.
In response, the IFS have committed to new research on business rates devolution and local government. Both the County Councils Network and the District Councils Network have said that business rates devolution must be ‘fiscally neutral’ for councils in the long term, according to Public Sector Executive.