PricewaterhouseCoopers and the Centre for Cities have been exploring how new financial tools can unlock greater funding for England’s towns and cities.
Financial Devolution for Local Growth is an independent survey of public and private sector leaders’ views on new funding tools for urban investment.
This is the final report from the joint PwC and Centre for Cities initiative, City Solutions: financing local growth, which also includes reports on Business Rate Supplements andLocal Asset-Backed vehicles.
The survey is a clear indication of the growing demand across all sectors and regions for greater investment in local infrastructure – and more local revenue-raising powers.
Nearly all our respondents say that local infrastructure issues are preventing their area from reaching its full potential. Furthermore, over eight in ten are in favour of using new local funding tools, such as Business Rate Supplements and Roof Tariffs – showing strong support for the Government’s new proposals on devolved powers for cities.
Co-operation and engagement between business and city leaders on how local investment decisions will be the key to ensuring devolution works in practice.
Senior Consultant, City Economics at Arup