How TIF funding can boost highways work

摘要

Whilst the Comprehensive Spending Review of 2010 (CSR 2010) saw the introduction of TIF as a concept (see Highways legal article November 2010), it still needed a lot of development. In the recent 2012 budget, confirmation was given that the government will make up to £150 million available from 2013/14 for larger-scale TIF projects in England's/core cities. This article discusses'the developments in TIF and what this may mean in respect of the funding of highways and associated infrastructure going forward. Local growth and the continued investment in infrastructure are vital for the recovery of the UK economy. The relative absence of government grant funding means that we desperately need revenue streams to fund infrastructure and growth. The trend since CSR 2010 has been to move to a model of localist finance.