London councils’ business rate tariffs are set to rise by £400m to £730m a year, to top up income elsewhere, according to the Institute for Fiscal Studies.
However, London authorities are set to benefit more from new developments in the future than their top-up council counterparts as local government moves towards business rate retention.
Analysis the Local Government Finance and Devolution Consortium – an IFS group backed by Capita, CIPFA, ESRC and PwC and supported by The MJ – found business rates would rise by about 11% above inflation, while they fall by 10% in the North.
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