Joanna Killian, head of local government at KPMG, comments on today’s announcements in the Queen’s Speech on the Local Growth and Jobs Bill:
“Today’s Queen’s Speech contained some encouraging moves towards increased local government power. While the retention of 100% of business rates by local authorities has been rumbling on for some time, today’s announcement that an enabling framework will be put in place is an encouraging development in cementing a vital revenue stream for councils. In a time of budget cuts, enabling councils to keep their business rates will not only drive greater investment but will also engender a greater spirit of innovation and growth.
“For combined authorities, the ability to levy the business rate supplement to fund infrastructure projects should see some much-needed regional and local infrastructure projects getting off the ground. By giving the power to combined authorities, issues around geographical boundaries, which have traditionally held projects back, should be easier to resolve and see more holistic infrastructure solutions put in place.”
Notes to editors
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.