The below Parliamentary question was asked by Jon Trickett on 2016-04-21.
To ask the Secretary of State for Communities and Local Government, whether he has made an assessment of the potential effect of the devolution of business rates on business growth in (a) former steel works and coalfield areas and (b) other local authority areas with a depleted industrial base.
Mr Marcus Jones
The Government intends to move to 100 per cent business rates retention in England by the end of this Parliament. The new system will have stronger incentives to boost growth, and areas that take bold decisions to further increase growth will see the benefits. We will be giving councils the power to cut the business rates multiplier to improve the business environment for enterprise and attract further businesses to their area. But we recognise that not all councils are the same. In setting up this system we will ensure that there is redistribution between councils so that areas do not lose out just because they currently collect less in local business rates, and will put protections in place for authorities that see their business rates income fall significantly.