The Local Government Finance Bill was introduced to the House of Commons and received its First Reading last week, with wide and significant scope including on rates retention, infrastructure levies and property owner BIDs.
Edward Cooke, Chief Executive of retail property body Revo, said: ““For some time we have been advocating the roll out of property owner BIDs beyond London, subject to appropriate checks and balances.
“The Bill as introduced appears to have addressed concerns raised regarding LEPs/infrastructure supplements in favour of consulting those liable to pay and others the implementing authority thinks appropriate.
“We will continue to work closely with Government on the Bill as it moves through Parliament.”
Mark Williams, Vice President of Revo and Investment Director at The Harkgroup, and past Chair of the Government Property Taskforce, said: “We welcome whole-heartedly the ability of property owner BIDs to be put in place.
“They will be an important tool in dealing with the transformation of our towns and cities, where multiple ownership is an obstacle to the successful evolution of places where change is urgently needed to reflect the modern world we live in.
“It’s pleasing to see another recommendation of the previous ‘Distressed Property Task Force’ being adopted by Government.”