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Budget: Chancellor sticks to his devolutionary guns – Jonathan Kinsey, CBRE PDF Print E-mail
Wednesday, 08 July 2015

Jonathan Kinsey, Executive Director at CBRE Rating said:

“The Chancellor is sticking to his devolutionary guns, announcing that Sheffield City Region, Liverpool City Region, Leeds and West Yorkshire are all on the road to receive similar autonomy to that recently awarded to Greater Manchester. If this translates into the power to retain business rate revenues above and beyond any growth in the levy, it should beef up local authority coffers, enabling them to respond directly to local needs.
“Enhanced business rates retention should be a positive move for business if Councils use the additional funds to encourage and support further growth, but there remains a risk that local councils will be increasingly reluctant to grant important rate relief to businesses, for example where part vacant properties are concerned. The only way businesses are going to get a fair deal, is if the business rate review levels the playing field for those being unfairly charged, and sets out a clear roadmap for further devolution, ensuring that the relevant governance and controls are in place.”

(Source - CBRE Comment)

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