The capital has been given the go-ahead for a business rates pool which will allow it to retain 100% of business rates income growth. The pool will begin next year and is expected to be worth around £240m during the year. Mayor Sadiq Khan welcomed the move but said he would continue to lobby for further financial powers for the capital. Other new pilots are set to be announced after an assessment by DCLG.
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Conrad Hall: a central/local tension is the cause of the financial crisis – not funding
The local government financial crisis has not been caused by a lack of funding: that’s just a symptom of the inherent conflict of having independent local authorities within a highly centralised state, argues Conrad Hall.
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