Property industry welcomes Local Government Resource Review

Liz Peace, chief executive of the British Property Federation, said: “Today’s announcement is a good start, but there is much further to go.

“If the government is serious about the private sector leading the UK’s economy out of recession then local authorities do need to be incentivised to support growth and development. Mechanisms like the ability for local authorities to retain business rates could be a powerful tool in the government’s growth agenda.

“We also look forward to hearing the review’s consideration of how tax increment financing can be delivered, which could be crucial in unlocking many stalled developments.”

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