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Resourcing London - a model for retained business rates

  • By London Councils

At the heart of the Local Government Resource Review (2010 to 2012) was the Government’s desire for councils to not only be financially more self-sufficient and less dependent on central government funding, but to engage with business in a more proactive and collaborative way. It aimed to provide a ‘framework of powerful incentives’ to reward local authorities who regenerate their local economies and support local business.

 

In Resourcing London – a model for retained business rates London Councils proposed an alternative model of business rates retention for London. This helped position London Councils’ lobbying around the Local Government Finance Act 2012 and influence the final business rates retention system that was adopted in April 2013.