Tax increment financing - Commons Library Standard Note

Published 19 February 2013 | Standard notes SN05797

Authors: Mark Sandford

Topic: Local government

Deputy Prime Minister Nick Clegg announced on 20 September 2010 that the Coalition Government would allow local authorities to use tax increment financing (TIF) in order to finance infrastructure projects. This would be implemented by the Local Government Finance Bill 2010-12, which is currently awaiting report stage in the House of Commons.

TIF has been used in the United States for approximately forty years and has generally been seen as a success. It is also being developed in Scotland. This note discusses the thinking behind TIF and considers recent developments.

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