Hope remains for reforms agreement ahead of upcoming financial year

摘要

Government officials believe it is still possible to introduce much-anticipated finance reforms to the sector in time for the next financial year, The MJ understands. Proposals for 75% business rates retention and the results of a fair funding review, which were originally due to be introduced ready for the last financial year, have already been delayed twice. The viability of business rates as a source of income has been hit by the move to online shopping and the economic damage caused by the pandemic while there is increasing nervousness within the sector about the outcome of the fair funding review, which is expected to benefit some councils at the expense of others. Council officers have been crying out for greater certainty about the medium-term financial picture for years.