0370 270 6000

already registered?

Please sign in with your existing account details.

need to register?

Register to access exclusive content, sign up to receive our updates and personalise your experience on brownejacobson.com.

Privacy statement - Terms and conditions

getting into a TIF about economic growth

1 November 2010

The government’s recent White Paper on Local Growth has set out proposals to increase confidence to invest.

The ‘incentives’ include: allowing councils to retain locally raised business rates, enabling local authorities to offer local discounts on business rates and new borrowing powers for councils to carry out TIF.

Free from dependency on central funding and the restrictions this entails – sounds great but, a badly thought-out framework could see more disparity between regions. What about councils that don’t collect enough business rates or indeed those who don’t collect any, how will they be supported?

It is also a small comfort that TIF will be initially introduced through a bid-based process, minimizing potential problems and risks. However, can local authorities marry their public duties with the high risks of borrowing against future additional uplift within their business rates base when this will be largely unknown at the time of borrowing? If the uplifts are not achieved it could be the taxpayer who will fund the deficit.

To have your say on the government’s proposals send your views to GrowthIncentives@communities.gsi.gov.uk by 1 December 2010.

related opinions

Supreme Court provides comfort to public authorities facing village green applications

In a lengthy majority judgment accompanied by two powerful dissenting opinions, the Supreme Court found yesterday that land acquired and held for statutory purposes cannot be registered as a village green where that registration is incompatible with the statutory purpose for which it is held.

View blog

Equal pay and the material factor defence

Equal pay claims, once the arena for public sector organisations only, have been spreading into the private sector over the last few years.

View blog

Legal fees for advising on settlement agreements

When entering into a settlement agreement, it is a requirement for the employee to get independent legal advice on the terms and effect of the agreement.

View blog

The Commons Treasury Committee has published its report on business rates. Are changes on the horizon?

The Treasury Committee has just published its report on its inquiry into the administration of business rates in England and, at first glance, it could be the catalyst to drive the change that many businesses have been calling for.

View blog

mailing list sign up



Select which mailings you would like to receive from us.

Sign up