Budget 2016: Full retention of business rates for London will help cement its world class position

Budget 2016: Retention of business rates for London

News that London will be allowed to keep all the business rates it generates earlier than planned is a necessary move to compete on the world’s stage.

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Commenting on the news today that the Greater London Authority has been permitted full retention of its business rates from 2017 - three years earlier than previously planned – which was announced in today’s budget, Kru Desai, head of government at KPMG in the UK, said:

“Bringing forward the date at which London gets to keep the business rates it generates by three years is an important move in cementing the capital’s position as a world class city.  Many of the capital’s competing cities around the world enjoy similar fiscal autonomy so this is a necessary move for London to secure its place among the global elite.”


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