At one stage, calling for the relocalisation of business rates was a pipe dream. The Local Government Association lobbied on the issue, not because it expected it to happen, but more because it thought it should.

In retrospect, I don't believe it was worth the effort. As our front page shows, as the business rates have returned, the balance of funding has failed to tip. As with much of central Government's rhetoric on localism and devolution of power, the reality gives very little back to local government.