Osborne to allow local councils to keep £26bn raised from business rates

Just watch that Business Rate Relief disappear for small, struggling businesses once the money doesn’t go to central government!

Ah, but wait: they can only raise them by a maximum of 2p in the pound and the view is that many councils will engage in a “race to the bottom” to attract new businesses.

Rather a dilemma there, then! And much worry about the north/south divide where, currently, richer councils with high value ratings subsidise poorer councils.

http://gu.com/p/4d2ee