Aligning better incentives for local authorities: what if towns saw a share of the tax receipts the Treasury enjoys from the success of alumni?
Currently, local authorities in areas with under-performing economies have the double difficulty of attracting workers and retaining the brightest and most talented amongst their young people.
Each council helps to create the circumstances in which its youth can thrive. But as soon as people leave the area to take the next step on their career ladder, the council loses their contributions to council tax and business rates revenues – plus the flow of their disposable income into the local economy.
Could there be a way to ensure greater consistency in how local areas are rewarded for producing financially-successful individuals?
Find out more in our article and let us know what you think.