Cllr Shafique Choudhary

Cllr Shafique Choudhary
Cllr Shafique Choudhary

Tuesday, 7 June 2011

Tax increment financing: an update

Tax Increment Financing?

The US has pioneered this financial mechanism - which allows the cost of building infrastructure TODAY to be paid for by the extra taxes generated TOMORROW.

The government is interested in introducing it into Britain, using future business rates, and maybe other future taxes, from property development. It has been hailed as a possible lifeline for stalled regeneration schemes.

Can we use this, to save front line services? Any comments?

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