Council gets £1 million to boost growth

From the archive, first published Thursday 9th Feb 2006.

Bradford Council will be given more than £1 million to encourage business growth.

Nineteen local authorities in Yorkshire and the Humber will share more than £13.6 million under the incentive scheme, Local Government Minister Phil Woolas has announced.

Local authorities in England will be awarded more than £105 million. Bradford Council will be given a grant of £1,393,029.

It is for local authorities to decide how the cash is spent - whether to improve on public services for their communities, invest in further business growth or to reduce council tax increases.

The scheme has been devised by Local Authority Business Growth Incentives (LABGI), which aims to increase funding to local authorities to almost £1 billion over the next three years.

Currently revenue from business rates received by local authorities is paid to central government, and then redistributed to local authorities on the basis of population.

LABGI provides an incentive for local authorities to promote economic growth in their area by allowing them to be rewarded for an increase in rateable value, above a certain level.

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