DCLG has announced the terms of reference of the much anticipated Local Government Resource Review. This review will focus on ways of reducing the reliance of local councils on central government funding, including the retention of locally generated business rates in order to promote growth.

The review will include a look at Tax Increment Financing and how it would operate within a localised business rates system, as well as implications for other initiatives like the New Homes Bonus.

Yesterday, George Osborne have a clear message in his speech launching the OECD Economic Survey, that next week's budget is to be one with a real focus on growth and it seems clear that we should expect some implications for the planning system.