The Chancellor George Osborne yesterday announced big plans to devolve new powers from Whitehall to local councils in a bid to promote growth and prosperity.
By the end of the Parliament, local government will be able to retain 100 per cent of local taxes – including all £26 billion of revenue from business rates – to spend on local government services. Fixing the current broken system of financing local government will be a huge boost to local growth, help attract business and create jobs.
The government will also abolish the Uniform Business Rate and give local authorities the power to cut business rates to boost enterprise and economic activity in their areas. Local areas which successfully promote growth and attract businesses will keep all of the benefit from increased business rate revenues. At the same time, the core grant from Whitehall will be phased out, and local government will take on new responsibilities.
George Osborne also took the opportunity at his party conference speech to reassure Britain about the Conservative apparent dedication towards forming a better housing policy.
Osborne said “Building doesn’t come easy and especially when it comes to new homes and infrastructure that the country needs.”
“We are going to get many more homes built for families to buy, we’re sweeping away planning rules on brownfield sites, this autumn we will direct our housing budget towards new homes for sale.”
“We will give housing association tenants the right to buy. We’ve had enough of people who own their own home lecturing others about why they can’t own their own one too.”
“I’m proud it is this government that is giving more than a million people the chance to have a house of their own. And if anyone wants to argue with us on that I say bring it on. We’re going to build the home owning democracy that this party stood for.”