Cities should be allowed to become more financially independent

23 May 2011: The City Finance Commission have today published the results of their inquiry into the current system of city local government finance recommending that cities should be allowed to become more financially independent, to strengthen their ability to drive both local and national economic growth, deliver localism and to increase care for their communities. Of interest to supporting the development of low carbon solutions, the report proposes that new Tax Increment Financing (TIF) powers for local authorities and Business Improvement Districts should be introduced to support local infrastructure investment.