Business rate move 'presents risks'

摘要

Council chiefs have accused the Treasury of seeking to hold back too much cash from authorities, under measures set out in the business rate retention consultation.Under the proposals, from April 2013, councils would keep an estimated £11.5bn, half of all business rates levied within their area, as a local share'.The other half, the 'central share', would be taken by the Government and redistributed in full to local authorities in the form of needs-based grants.