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

IR35 changes - six months and counting...

In his 2018 Autumn Budget, the then Chancellor, Phillip Hammond, announced a significant change to the way liability for IR35 breaches will be dealt with for private sector companies from April 2020.

View blog

Marriott International: a look behind the ICO’s £99m fine and what this means for corporate acquisitions

Last month, the Information Commissioner’s Office (ICO) announced notice of its intention to fine (NOI) Marriott International, Inc. £99m for infringements of the GDPR.

View blog

Supreme Court backs employers seeking to enforce restrictive covenants: Tillman v Egon Zehnder Ltd

The Supreme Court in Tillman v Egon Zehnder Ltd has determined that where post-termination restrictive covenants (i.e. “non-compete” clauses) in employment contracts go further than reasonably necessary to protect an employer’s business interests, it can apply the ‘blue pencil test,’ severing the offending words and leaving the remaining enforceable clause in place.

View blog

Watch this space on breach of contract, vicarious liability and assumption of responsibility

The concept of Assumption of Responsibility is on many stakeholders’ minds at the moment following the Supreme Court decision in CN & GN v Poole.

View blog

mailing list sign up



Select which mailings you would like to receive from us.

Sign up