Sam Clayden 22 November 2017

Budget 2017: London to retain all local business rate growth

London local government will be able to keep all its business rates growth next year as part of a 100% retention pilot.

Phillip Hammond used today’s Budget to allow the 32 London boroughs, the City of London and the mayor to keep additional business rates income raised locally, which in 2018/19 is forecast to be in the region of £240m.

The boroughs will not retain revaluation growth.

The announcement builds on the devolution deal signed last spring by the city’s leaders, who have since been devising a scheme for the distribution of additional business rates.

London Councils chair Cllr Claire Kober said: ‘This is an essential step towards more sustainable funding of the local services on which Londoners and London’s businesses depend.

‘It will enable further investment in the vital infrastructure to support economic growth and create more jobs across London.

‘Agreeing a business rates scheme for London, between the mayor and all the boroughs, has been the key to the Treasury agreeing that London can keep more business rates revenue and shows our collective ambition to better serve London's residents and businesses by gaining more control over our city's finances.’

SIGN UP
For your free daily news bulletin
Highways jobs

Family Support Worker

Durham County Council
Grade 6 - £27,269 - £30,060 (Pay award pending)
Do you have a real passion for helping families to make positive changes for themselves and their children? This might be the right role for you!   WH Durham
Recuriter: Durham County Council

Clerical Officer Receptionist

Durham County Council
Grade 3 £24,404 - £25,183 Pro Rata to hours worked Pay award pending
WHAT IS INVOLVED? We are looking to appoint a part time Clerical officer/Receptionist within Business Services to provide a professional, effective a Durham
Recuriter: Durham County Council

Administration Assistant

Durham County Council
£25,584 - £27,711 pro rata
Administration Assistant Grade 5    £25,584 - £27,711 pro rata Temporary – required from 1st October 2025 until 31 December 2025 37 hours per week, Te Consett
Recuriter: Durham County Council

Support Assistant

Durham County Council
£24,027 pro rata
Support Assistant Grade 1 £24,027 pro rata Temporary – required from 1st October 2025 until 31st October 2026 Part Time, 32.5 hours Mon - Fri 9am -4pm Consett
Recuriter: Durham County Council

Lecturer in Foundation Learning -Maths, English and Digital

Durham County Council
Grade 9 £34,314 - £37,938 pro rata for part-time term time working PAY AWARD PENDING
The DurhamLearn Foundation Learning programme area delivers Digital Skills, English and Maths Functional Skills.   An opportunity has arisen for a Lec Durham
Recuriter: Durham County Council
Linkedin Banner