Councils given £36m to boost business rates
Local authorities have been given more than £36m to develop the Local Authority Business Growth Incentives scheme.
Allocations include the following:
- Manchester City Council – more than £8m;
- Liverpool City Council – more than £2m;
- Cheshire – £1.5m
- Lancashire – more than £2m;
- Cumbria – more than £800,000.
The scheme delivers financial rewards directly to councils that promote economic growth in their areas, by allowing them to retain a share of increases in revenue derived from business rates.
Local Government Minister John Healey said: "LABGI ensures that every council has a direct financial incentive to promote enterprise, jobs and local business growth, helping them to boost our country's economic potential.
"This £300m is a welcome reward for the hard work they have put into generating prosperity in their areas, and an incentive to continue that strong progress in future.
"This is the final year of the 3-year LABGI scheme and my priority now is reform, with the aim of making it a permanent feature of the council funding system. I plan to publish proposals for consultation later this year."
