§ Vera BairdTo ask the Chancellor of the Exchequer what extra amount Redcar and Cleveland would have received in(a) 2001, (b) 2002 and (c) 2003 under the Treasury's preferred model for local authority retention of business rates. [125927]
§ Mr. BoatengThe Government published a consultation document on the Local Authority Business Growth Incentive scheme on the 4 July. This invites responses by the 31 October. At this stage we are consulting on the principles and concepts that will guide the design of the scheme. During 2004 we will consult again on a specific proposal.
The benefits to individual local authorities from the scheme will depend on the final design of the scheme and how well individual local authorities respond to the incentives from the scheme.