By 2020, local government will retain 100% of business rates and will have the power to reduce business rates. Directly elected mayoral authorities, such as the Mayor of London, will have the power to levy a small supplement on business rates to fund new infrastructure.<\/p>
In the last Parliament, the Government gave local councils greater power over council tax support schemes and the treatment of second homes and empty properties. The Government believes there would be difficulties in devolving other property taxes, such as Stamp Duty Land Tax and Capital Gains Tax, to London as this would create a distortive effect around the border, increase administration costs and complexity and expose local government to significant fiscal risk.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1529", "label" : {"_value" : "Biography information for Mr David Gauke"} } , "answeringMemberConstituency" : {"_value" : "South West Hertfordshire"} , "answeringMemberPrinted" : {"_value" : "Mr David Gauke"} , "dateOfAnswer" : {"_value" : "2015-12-01", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-12-01T16:46:10.863Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2015-11-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Property: Taxation"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, if his Department will undertake an analysis of the feasibility of devolving property taxes to London linked to specific infrastructure projects.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4005", "label" : {"_value" : "Biography information for Bob Blackman"} } , "tablingMemberConstituency" : {"_value" : "Harrow East"} , "tablingMemberPrinted" : [{"_value" : "Bob Blackman"} ], "uin" : "17282"} , {"_about" : "http://data.parliament.uk/resources/63457", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/63457/answer", "answerText" : {"_value" : "
The Government keeps all decisions on tax policy under review. In addition, the Government has recently devolved a range of responsibilities and funding through the Localism Act 2011 and have decentralised local government finance through the Local Government Finance Act 2012. Any further fiscal devolution to sub-national authorities in England would represent a significant change to the existing tax landscape with potentially significant legal, economic and constitutional implications. <\/strong><\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1529", "label" : {"_value" : "Biography information for Mr David Gauke"} } , "answeringMemberConstituency" : {"_value" : "South West Hertfordshire"} , "answeringMemberPrinted" : {"_value" : "Mr David Gauke"} , "dateOfAnswer" : {"_value" : "2014-06-24", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2014-06-24T16:23:30.8021381Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2014-06-18", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Financial Devolution"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what analysis his Department has undertaken of the feasibility of further financial devolution to London and other cities.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4005", "label" : {"_value" : "Biography information for Bob Blackman"} } , "tablingMemberConstituency" : {"_value" : "Harrow East"} , "tablingMemberPrinted" : [{"_value" : "Bob Blackman"} ], "uin" : "904413"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 2, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }