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Net zero
Business rates: maximising the growth incentive across the country
By
Hugo Bessis
| 7 December 2017
Business rates: maximising the growth incentive across the country
By
Hugo Bessis
| 7 December 2017
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Executive Summary
Introduction
Figure Box 1: How business rates work
The state of demand for commercial space
Figure Figure 1: Change by type of area, 2010-2017
Figure Figure 2: Knowledge Intensive Business Services (KIBS) jobs and Productivity
Figure Box 2: Cost of commercial space in Reading and Mansfield
Figure Figure 3: Change in average non-residential property size, 2010-2017
The economic growth incentive: issues and adjustments
Figure The current incentive explained
Figure Figure 4: GVA and floorspace and growth
Figure Improving the system to help more cities to grow
Figure Figure 5: GVA and rateable value growth
Figure Box 3: Revaluate frequently: international examples
Figure Box 4: Impact of the cap on the growth incentive
Figure Figure 6: Rateable value change, 2008/9-2014/15
Figure Figure 7: Business rates collected, 2008/9 – 2014/15
Figure Box 5: How would the two incentives play out? The cases of Barnsley and London
Figure Summary
Recognise the contribution from the rest of the country
Figure Figure 8: Top local authorities for business rates collection, 2015-2016
Figure Pooling business rates
Figure Box 6: Business rates revenues in Greater Manchester
Figure Figure 9: Share of economically active residents working in Manchester
Figure Support places that can’t generate enough business rates
Conclusions and policy recommendations
03
10: Business rates receipts per capita and revenue expenditure per capita in Greater Manchester, 2016-2017
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