Osborne to allow local councils to keep £26bn raised from business rates
George Osborne has announced the biggest transfer of power from central to local government in recent history by allowing councils to retain all the money they raise from business rates – a total of £26bn.
In the most dramatic move in his bid to devolve power from Whitehall as he creates a “northern powerhouse”, the chancellor will allow councils to decide how to spend the revenue and to lower rates to attract new business.
The changes, which undo one of Margaret Thatcher’s last legacies when her government introduced the national business rate in the 1988 Local Government Finance Act, have long been demanded by local authority leaders who say they need greater flexibility over their finances.
Osborne told delegates at the Conservative party conference: “Today I am embarking on the biggest transfer of power to our local government in living memory. We’re going to allow local government to keep the rates they collect from business. That’s right, all £26bn of business rates will be kept by councils instead of being sent up to Whitehall.”
Osborne’s speech amounted to a wide-ranging bid for support from voters who had previously supported the Labour party. He declared that the Tories were the party of builders, in contrast to Labour. Setting out his view of how the Tories should direct their fire at the Labour party led by Jeremy Corbyn, he said: “Labour have now turned their back on opportunity and aspiration – we’re going to build the share-owning democracy this party has always believed in. Labour – the wreckers. We are the builders.”
Source: Osborne to allow local councils to keep £26bn raised from business rates | Society | The Guardian
Kind Gideon gives away £26 bln to councils just like this
Obviously he'd cut subsidy money for same amount or more, and invite councils to increase business rates to make up for shortfall.
So there you have it, a Con party turned out to be total con.
George Osborne has announced the biggest transfer of power from central to local government in recent history by allowing councils to retain all the money they raise from business rates – a total of £26bn.
In the most dramatic move in his bid to devolve power from Whitehall as he creates a “northern powerhouse”, the chancellor will allow councils to decide how to spend the revenue and to lower rates to attract new business.
The changes, which undo one of Margaret Thatcher’s last legacies when her government introduced the national business rate in the 1988 Local Government Finance Act, have long been demanded by local authority leaders who say they need greater flexibility over their finances.
Osborne told delegates at the Conservative party conference: “Today I am embarking on the biggest transfer of power to our local government in living memory. We’re going to allow local government to keep the rates they collect from business. That’s right, all £26bn of business rates will be kept by councils instead of being sent up to Whitehall.”
Osborne’s speech amounted to a wide-ranging bid for support from voters who had previously supported the Labour party. He declared that the Tories were the party of builders, in contrast to Labour. Setting out his view of how the Tories should direct their fire at the Labour party led by Jeremy Corbyn, he said: “Labour have now turned their back on opportunity and aspiration – we’re going to build the share-owning democracy this party has always believed in. Labour – the wreckers. We are the builders.”
Source: Osborne to allow local councils to keep £26bn raised from business rates | Society | The Guardian
Kind Gideon gives away £26 bln to councils just like this
Obviously he'd cut subsidy money for same amount or more, and invite councils to increase business rates to make up for shortfall.
So there you have it, a Con party turned out to be total con.
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