Seize opportunities new financial powers offer, councils told

摘要

Councils must quickly develop detailed plans for their future use of forthcoming financial powers, or they risk missing development opportunities by adopting a 'patchwork' approach, experts have warned. A forum of local authority finance and regeneration officers, co-ordinated by consultant, Navigant, met recently to discuss government plans to introduce tax increment financing (TIF), and a range of other finance powers, such as localised business rates, to councils. Both powers are likely to be included in the Department for Communities and Local Government's council resource review, due to be published this month.