Assessing the potential for TIF to drive growth in London

Ahead of the publication of the Local Finance Bill, Future of London is holding a senior seminar with the GLA to discuss the potential for tax increment financing to drive growth and development across London, and the potential for TIF at a local level.

While the Government has put forward TIF as a tool to support the delivery of major regeneration schemes including, in London, the Northern Line Extension to Battersea, we are keen to hear from all London Boroughs with regard to its potential wider application.

Questions that the seminar will seek to explore include:
• How would the Government’s TIF policy need to evolve in order to support TIF locally?
• What schemes in London could be appropriate for a TIF approach?
• Could and should other incremental taxes (or incremental slices of the national tax cake) be hypothecated to drive investment?
• What TIF risks are local authorities prepared to take on?
• What risks need to be held by other parties?
• Can the private sector take on more risk to exploit the opportunities that TIF could present?

The seminar, supported by PricewaterhouseCoopers LLP, will be a fantastic opportunity to exchange knowledge on this important development for local government finance, and hear from other senior colleagues in the sector actively considering its use.

The seminar will be held at 08.30 – 10.30am on 26 June 2012, at City Hall. Attendance is for Chief Executives and Finance Directors of London Boroughs. If you are interested in attending, please contact events@futureoflondon.org.uk.