District councils have been lobbying ministers to allow them to monetise the benefits of growth.
The use of tax increment financing (TIF), which allows local authorities to borrow money for infrastructure projects against the anticipated increase in future tax receipts, was among a taster of policy ideas the District Councils’ Network (DCN) has submitted to the Department for Levelling Up, Housing and Communities.
Core Cities has also backed the use of ‘innovative financing schemes like TIF’.
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