4. What estimate he has made of the amount of revenue that councils will be able to collect through devolved business rates.
Councils currently retain just under £12 billion of the business rates that they collect. As a result of our reforms, we estimate that, by the end of this Parliament, councils will retain the full £26 billion raised from business rates.
Local confidence is rock bottom in the budget-setting of Eastleigh Borough Council, which is showing a huge funding gap. Does the Minister agree that the new business rates powers will help councils to take control of their finances properly and help local business?
I do indeed. I enjoyed meeting many of the councillors from my hon. Friend’s constituency recently and seeing the excellent work that is being done to attract businesses through the local enterprise partnership and investment in Eastleigh College. Business rates are buoyant in her area, and she will know that an extra two thirds of a million pounds is available this year because of that buoyancy in business rates, so the prospect of more business rates is clearly going to be of great help to her council.
(9 years, 2 months ago)
Commons ChamberI am fully occupied with the Bill before us, and I am sure my colleagues will debate the hon. Gentleman’s proposals during the scrutiny of that other legislation.
I warmly welcome this Bill, and I hope to speak today in support of it and further devolution for Hampshire. The Minister has mentioned no impositions in this Bill, and we hope it will work positively with the Localism Act 2011. Where authorities have not used their powers to deliver on local plans and neighbourhood plans, as is the case in my constituency, where there is a vacuum of localism, how does he see this Bill working with the Localism Act?
That goes to the point about double devolution made by the hon. Member for Nottingham North. My hon. Friend is right in what she says, and the Housing and Planning Bill contains provisions to strengthen the ability of neighbourhoods to insist on the development of a neighbourhood plan. I hope she will find that welcome.