New ‘Off Balance Sheet’ Funding under the Localism Act 2011
Posted on April 7, 2014 by Jeremy Barnett
The Localism Act is a wide ranging piece of legistlation that represents a huge shift in power from central Whitehall to local governments, communities and individuals. The new measures include new freedoms and flexibilities for local government, new rights and powers for communities and individuals, reform to make the planning system more democratic and more effective, and reforms to ensure that decisions about housing are taken locally.
The new ADZ schemes will give local authorites a tremendous capability to unlock private sector funding for major infrastructre schemes such as those recommended in the ‘Mini Stern Review Economics of Low Carbon Cities’ Report by Professor Andy Gouldson.
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Governement allows Tax Increment Funding for Infrastructure Projects
Posted on April 7, 2014 by Jeremy Barnett
On 20th September 2010, the Deputy Prime Minister, Nick Clegg announced that the Coalition would allow local authorities to use Tax Increment Financing [TIF] in order to finance infrastruture projects. This would be implemented by the Local Government Finance Bill 2010 Р12 which is currently awaiting report stage in the House of Commons
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