Published: 2nd Oct 2018

Nigel Wilcock, executive director of the IED, discusses what effect the ‘death of the high street’ is having on local government finance. The general public has not yet caught up with the fact that no-one knows how local government will be funded beyond 2020 – or that the seemingly unrelated crisis on the High Street, with large chains collapsing all around us, is increasingly a contributor to this issue. The basic problem is that councils were supposed to be self-financed by 2020 through the retention of business rates and with a formula to redistribute from those areas with a large amount of related revenue to those with less. The Local Government Finance Bill to enable this to happen was omitted from the last Queen’s Speech after being dropped from the government’s agenda due to the quickly-called 2017 General Election – and now there is no plan. The Local Government Information … (To read the full article, subscribe below)