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.
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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