Economic news
UK council tax caps to be eased amid local authority funding crisis -FT
2022.11.15 19:38
© Reuters. FILE PHOTO: New Chancellor of the Exchequer Jeremy Hunt leaves 10 Downing Street in London, Britain, October 14, 2022. REUTERS/Henry Nicholls
(Reuters) – British finance minister Jeremy Hunt is set to give local authorities the right to raise council tax by a maximum of 4.99% from 2.99% before having to put the increase to a local referendum, the Financial Times reported on Wednesday citing people familiar with the matter.
Hunt will make the announcement in the upcoming Autumn Statement on Thursday, the newspaper reported.
