Giving councils freedom to borrow against future business rate revenue could help boost regeneration, a think tank has claimed.
A report from think tank Centre for Cities claimed the ability for councils to use tax increment financing (TIF) to borrow against future increases in business rate receipts had helped to fund the development of infrastructure.
The think tank highlighted its use in Birmingham to enable redevelopment.
Centre for Cities said: “Central government could allow any authority to use TIF if it so chose.
“Reflecting on the success or otherwise of how this tool has been used in the zones, the government should consider extending its use to other parts of the country.”
