THIS week Harlow MP Robert Halfon has welcomed the announcement by George Osborne at Conservative Party Conference that councils in England will be able to keep the proceeds from business rates raised in their area.
Robert Halfon said: ‘The government is committed to devolving powers to local councils, and this change will mean that local councils in England will be able to set or lower their own business rates to attract new businesses and keep the revenue to regenerate local areas.
Under the plans, Harlow Council will be able to set its own rate, attract new investments and more business will of course create revenue this money will be use to regenerate local areas.
This change is due to be in place by 2020 and it would mean that local councils such as Harlow will retain 100% of local taxes – including all £26bn of revenue from business rates. Harlow Council will then be able to spend on this money on local government services cities and communities.’
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