Chancellor announces major transfer of power from central to local government,allowing councils to lower rates to attract recent businessGeorge Osborne has announced the biggest transfer of power from central to local government in recent history by allowing councils to retain all the money they raise from trade rates – a total of £26bn.
In the most dramatic slither in his bid to devolve power from Whitehall as he creates a “northern powerhouse”, the chancellor will allow councils to decide how to spend the revenue and to lower rates to attract recent trade.
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Source: theguardian.com