We set out our continued commitment to creating strong incentives to promote economic well-being in the Review of sub-national economic development and regeneration earlier this year. We know that Local Authorities have a key role in enabling all of England’s localities and regions to meet the challenges of an increasingly competitive global economy. The Review and Sir Michael Lyons’ Inquiry into local government set out the need for stronger, clearer incentives to enable Local Authorities to fulfil their potential in taking on this role, raise prosperity across the UK and tackle disparities between regions.
In 2005 the Government introduced a three-year Local Authority Business Growth Incentives scheme (LABGI) to provide such an incentive for councils to encourage the businesses in their areas. Since the start of LABGI, many groups, including the CBI, the Local Government Association and hundreds of Local Authorities have welcomed the scheme as an innovative step in the right direction.
Building on the lessons of the existing scheme, and after wide discussion with local government and business, we want your views on how to reform the scheme.
Link to White Paper published on the 9 October 2007 http://www.communities.gov.uk/documents/localgovernment/pdf/502850
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