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Local Government Finance

Part of the debate – in the House of Commons at 4:39 pm on 7th February 2018.

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Photo of Sajid Javid Sajid Javid The Secretary of State for Housing, Communities and Local Government 4:39 pm, 7th February 2018

I can give my hon. Friend that reassurance and I take this opportunity to thank him for the strong representations he has made on behalf of Shropshire, which have fed into the settlement.

The business rates retention programme will also be introduced in 2020-21. It will give local authorities powerful incentives to grow their local economies. So far, this has been a resounding success. Under the current scheme, local authorities estimate that they will receive about £1.3 billion in business rates growth in 2017-18, a significant revenue stream on top of the core settlement funding that is set to continue into 2018-19.