Osborne Gives Local Councils Power to Set and Keep Business Tax
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U.K. Chancellor of the Exchequer George Osborne said he’ll give local authorities in England the right to set and spend business taxes raised in their areas.
The move, which will replace a system under which councils pay business rates into central government and receive a grant to cover local services in return, forms part of Osborne’s plan to devolve power to town halls after decades of centralization.