Iain Stewart – 2015 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Iain Stewart on 2015-10-21.

To ask Mr Chancellor of the Exchequer, what plans he has to allow local authorities to retain business rate revenues.

Mr David Gauke

The Chancellor set out a radical devolution reform package for local government in his conference speech. This included plans to allow local government to retain 100 per cent of revenue from business rates to spend on local services, as well as giving local authorities the power to lower business rates to boost growth and support jobs.

While there will still be redistribution between Local Authorities to ensure those with a lower tax base do not lose out, local areas will be able to keep all local growth in their business rates.