Writing for CapX, director of the Centre for Progressive Capitalism Thomas Aubrey argues that the current business rates system is not fit for a dynamic 21st century economy. The current system suffers from its inability to signal to firms the changing nature of rents through time. “The system is based on the idea of setting […]
The chancellor’s decision to devolve the full revenues from business rates to local areas is a radical step forward for England’s regions. But for local leaders to increase investment in infrastructure, they need to be able to set rates locally and borrow against these revenues.