Published: 11th Jan 2017

Despite few details about the move towards 100% business rate retention, some councils are making preparations for the shift, as Herpreet Grewal reports In October 2015 former chancellor George Osborne announced that local authorities would be able to retain their business rates. Osborne said it was time to face up to the fact that ‘the way this country is run is broken’ because people feel remote from the decisions that affect them. He said all £26bn worth of business rates will be kept by councils instead of being sent up to Whitehall, admitting that we ‘collect much more in business rates than we give back in the main grant’. He said the government would abolish ‘this local government grant altogether’ and ‘give councils extra power and responsibilities for running their communities’. Ed Cox, director of IPPR North, among others, welcomed the announcement saying it took ‘the devolution agenda into a … (To read the full article, subscribe below)