STORY
The Government is considering proposals to allow England’s regional mayors to retain more of the revenue raised from business rates. The plan is part of wider work on fiscal devolution and would be intended to give regional leaders more control over economic development and public services.
Local Government Secretary Steve Reed has said regions should benefit from growth generated in their areas, while retaining arrangements to prevent poorer areas being disadvantaged. The proposals could be developed further by the Treasury ahead of the Budget.
Business rates remain a significant source of revenue and have been the subject of long-running debate among councils, high street businesses and hospitality firms. Any reform would be scrutinised for its impact on regional inequality, local budgets and the balance of power between Whitehall and devolved institutions in England.