Responding to Nick Clegg’s announcment at the Liberal democrat Conference that the Government would “allow councils to keep some of the extra business rates and council tax they raise when they enable new developments to go ahead.” Mike Whitby, Leader of Birmingham City Council, said:
“As long-established campaigners for the TIF/ADZ model as an effective method for raising finance locally to underpin major investment, without incurring long term public debt, we very much welcome Nick Clegg’s announcement today.
“The Government has laid down the gauntlet to the Public Sector to do more with less – and innovative finance mechanisms like TIF should enable local authorities to do just that.
“We have already put forward several proposals for how ADZs could operate within the West Midlands, and our models demonstrate that there could be a huge impact in terms of job creation and economic output – unleashing our capacity to become true drivers of the UK Growth Agenda.
“We urge the Government to allow Birmingham to use its expertise, influence and proven track record for innovation to put the theory into practice as a pilot scheme for the rest of the country.”
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