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What next for tax increment financing?
Published: 2010-06-08 15:09:37
Efforts to introduce tax increment finance (TIF) won't necessarily be halted by the new government's economic plans, according to British Property Federation (BPF) finance and investment director Peter Cosmetatos.
Alongside Core Cities and other influencers, the British Property Federation has been lobbying for the adoption of TIF in the UK.
Cosmetatos is aware that deficit reduction is one of the Coalition Government's criteria for making policy. But he is also encouraged by the fact that enterprise and growth are also high on the list.
"I don't think that TIF will necessarily fall foul of the economic agenda if the investment falls on the private sector," he said. "There are currently schemes that could be done on that basis."
One of the key considerations for the Government is that TIF should not appear on the public sector balance sheet.
"BPF will be actively lobbying the Government with budgetary submissions," Cosmetatos said. "Along with Core Cities, we will continue to make the case for TIF."
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Time to look for new joint venture partners
Published: 2010-06-08 14:45:11
Local Partnerships chief executive John Carleton has urged local authorities to develop more strategic partnerships, including links with the third sector, as they adapt to the recession.
Speaking ahead of his contribution to the SocInvest 2010 session on Next Generation PPPs, Carleton said partnerships can play a central role in sustaining regeneration.
"We have to start thinking increasingly about whom partnerships are formed with, including the third sector," he said.
"Local authorities must become more strategic in delivering services by understanding what they do best and how they can best involve other organisations."
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Help shape government regeneration policy with the SocInvest survey
Published: 2010-06-08 14:33:38
Provisional findings from our exclusive survey of the regeneration community show strong support for innovations that would increase local government's control of funding.
Full findings will be unveiled at SocInvest 2010 next week.
Have your say by completing the survey and help to make the collective voice of the regeneration community count in shaping the Coalition Government agenda.
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Government budget cuts and regeneration: summary
Published: 2010-05-26 07:32:54
In outlining cuts totalling £6.243 billion for the year 2010/11, Treasury chief secretary David Laws also announced a series of policy changes. Several of these have implications for regeneration and housing programmes.
•England's regional development agencies will have to save £270 million in the current financial year through "ending lower value spending".
•Departments across Whitehall will have to save more than £1.5 billion in the current financial year through "delaying and stopping contracts and projects". read more
Core Cities makes case for sustaining regeneration support
Published: 2010-05-25 08:08:54
The Coalition Government has announced a reduction of £270 million in regional development association (RDA) budgets as part of the £6.2 billion of cuts in spending for 2010-11.
The Government has also made it clear that radical changes in how regional development is managed are also on the way.
"It's not clear what the scope of the changes will be, or what it will mean for some functions currently within the RDAs," said Chris Murray, director, Core Cities.
"It's likely that we will end up with different arrangements in different places. What we must avoid is a recentralisation of functions."
A great deal remains to be clarified, including the use of business rates for local reinvestment and some form of national funding for infrastructure. As Treasury ministers have promised to review every spending commitment above a certain level, there could well be further cutbacks on infrastructure and regeneration investment. read more
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