Plans to roll out 100% business rates retention from April 2019 have been thrown into the air by the calling of the General Election.
Council tax and business rates in Scotland should be devolved in full to local authorities, think tank says.
Councils are being urged to distribute the funding to help businesses affected by the increase in rates as ‘speedily and fairly’ as possible.
Extra money raised under policy of giving councils complete control over business rates should be used to plug gaps in spending on services, councils demand.
The chancellor’s plans to allocate a nearly half billion pound package to ease the burden of a business rates revaluation does ‘little to ease the pain’, London council says.
Local authorities will be able to access a £300m fund in order to ease business rate revaluation challenges in their local areas, chancellor Philip Hammond has announced.
Chancellor Philip Hammond has already dismissed announcing a ‘spending spree’ in his budget speech tomorrow, but what should local government watch out for?
London councils’ business rate tariffs are set to rise by £400m a year to £730m, to top up income elsewhere, according to the Institute for Fiscal Studies.
Sajid Javid has promised to work ‘closely’ with the chancellor in order to support the small businesses who will be hit the hardest by a rates increase.
Seven out of 10 business properties in Scotland will pay the same rates or less next year, with half paying nothing at all, says the Scottish finance secretary.