Harris Lamb Blog – Local Business Rates
25th August, 2011.
Local Accountability on Business Rates.
By Andrew Groves, Associate Director, Commercial Agency.
It is a great idea, following a recent announcement of policy, that the government is pushing for Councils to retain Business Rates generated within their Borough. The process will strengthen the bonds of local accountability and the partnership principles of local government and local business.
Communities secretary Eric Pickles recently published plans to allow councils to use tax increment financing and keep their own business rates.
We see plenty of examples where local councils should intervene more positively in dialogue with existing occupiers in their area or with potential new business occupiers, listening and intervening with the companies will help to promote better local business partnerships.
I agree with Liz Peace, chief executive of the British Property Federation, who said: “This should give Councils a greater incentive to promote local business growth. Indeed, developers see it as one of the most positive steps that government could take to back sustainable development.”
Incentivising Councils to think and act in the best interest of the local business is a welcome move by government in our view.
There is risk as, if the detail is not thought through, prosperous Councils may become richer with cash-strapped Councils left behind. However, this is really good news for Councils struggling to find funding for regeneration.
For advice and assistance on all aspects of Commercial Property, Andy would be happy to help. He can be reached on 01782 272555 or via email: email@example.com.
Disclaimer: The views expressed within this article or weblog (‘blog’) are the personal views of the contributors and authors only and do not necessarily reflect the views of any named companies or thier employees.