Deadline: 26th Sep 2016
This consultation seeks views on the government’s commitment to allow local councils to retain 100% of the business rates that they raise locally. Specifically this consultation seeks to identify some of the issues that should be kept in mind when designing the reforms.
The government has announced it will undertake a fair funding review of what the needs assessment formula should be following the implementation of 100% business rates retention. As a first step, alongside this consultation, the government has issued a call for evidence which sets out the key questions that will need to be addressed as part of this review.
The 100% retention of business rates by local government is a reform that councils have long campaigned for – and which central government is now committed to. Implementing this vitally important change will mean that 100% of all taxes raised locally are retained by local government.
Please respond by 26 September 2016