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Nick Clegg's TIF announcement is great news for cities, but there are outstanding questions that are still to be answered.
Nick Clegg’s announcement that Tax Increment Financing (TIF) is to be introduced in England is great news for cities.
Centre for Cities has long been arguing that, without devolving funding and powers as well as responsibilities to cities, they cannot fulfil their potential to drive economic growth.
This note draws on a report the Centre for Cities authored on behalf of the All Party Urban Development Group (APUDG) in 2009 to explain what TIF is and highlight some of the outstanding questions still to be answered.