Localised business rates, tax increment finance (TIF) and community budgets are likely to be the only new finance powers handed to town halls until the next general election, local government secretary Eric Pickles has confirmed.

Appearing before the Commons communities and local government select committee on 12 September, Mr Pickles told MPs that while he supported a long-term programme to empower local authorities through even greater financial autonomy, his ‘incremental' approach meant the council funding regime would remain stable.