Commercial Property Advisors (CPA), business rates specialists, believes that allowing councils to retain increasing amounts of the business rates they collect,and relying on inflationary increases, is a one-sided and short-term response to local economic wellbeing.
Collection of business rates places the council in the role of policeman, rather than economic partner.
What is clearly needed is a more innovative way of financially rewarding local authorities, for attracting businesses to their area. (Local taxes are something which comes later, naturally rather than coercively).
This is crucially important at a time when ever-rising business rates threaten to undermine the economic health of business.
CPA firmly believes that local government should stand up to Westminster's promotion of business rates as the best means of raising revenue, when in reality high streets and industrial units are shuttered as never before.