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Spending Review and Autumn Statement — Statement

Part of the debate – in the House of Lords at 4:04 pm on 25th November 2015.

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Photo of Lord O'Neill of Gatley Lord O'Neill of Gatley The Commercial Secretary to the Treasury 4:04 pm, 25th November 2015

My Lords, the announcement about the retention of business rates was made a number of weeks ago now. I may have misunderstood the question, but they are now available for all local authorities to retain. The latter part of the question was about the recommendation of the City Growth Commission, which I think most noble Lords will be aware that I used to chair. As we have agreed in principle with the deals we have already done, those areas that are prepared to take on mayoral responsibilities and have greater accountability will be given the powers to change and raise the rates suited to their own local desires and competitiveness.