Essex County Council's leader has given a cautious welcome to the Chancellor's announcement that authorities will be permitted to take control of the business rates system.
The current system sees businesses pay a set rate, which is controlled by central government and roughly half of all collected locally ends back in the Treasury.
The Chancellor has said by 2020 authorities will keep all income, though there will still be mechanisms to redistribute within authorities.
Essex County Council has been lobbying Government to give more responsibility to local councils, including control over local taxation.
Essex County Council leader David Finch said: "The Chancellor’s announcement this week allowing authorities to fully retain Business Rates income is good news and very much in the spirit of devolution and local democracy. It should rightly be welcomed.
“For a number of years we have been very clear in saying that local authorities are better placed than central Government to support local economic growth and help grow the business base in their areas."
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