Member

Amendment 196C, tabled by my noble friend Lord Bassam, proposes a change of tax policy and therefore is a matter for the Chancellor at fiscal events. Any future changes to tax policy will be announced at the relevant fiscal event, where they can be considered in the round. However, there are already powers for the majority of mayors to levy a business rates supplement. This amendment would restrict this power to established mayoral strategic authorities only, and that would remove the power to levy a supplement from the six mayors who currently have that power. A business rates supplement can create significant benefits for local communities. For example, in London, the business rates supplement introduced by the Greater London Authority was essential for the delivery of the Elizabeth line.