George Osborne has announced that local councils will be allowed to keep the business rates they raise, providing them with £26 billion.
In exchange, the local government grant will be phased out - leaving councils with a surplus on what they had before, Osborne said.
Local authorities will be given the power to raise or lower business rates, as the single national rate is abolished completely.
Local government to keep £26bn of business rates rather than send to Whitehall, announces Osborne.
Local Govt grant to be phased out in return for allowing councils to keep all the money they raise in business rates
George Osborne has insisted that HS2, the controversial new high-speed rail link, will be built through his own constituency despite fierce opposition, reports Deputy Political Editor Chris Ship.
The public is "entitled to know" why Lord Janner cannot stand trial for a string of child sex offences, a senior judge has said.Read the full story ›
Nicky Morgan has hinted that she is preparing to stand for the leadership of the Conservative party when David Cameron steps down.Read the full story ›
The Labour leader Jeremy Corbyn has pulled out of interviews with the ITV regions scheduled for today because he is "too tired and losing his voice".
ITV's Political Correspondent Paul Brand has the latest:
Corbyn has pulled out of interviews with ITV regions. Too tired and losing voice. Yesterday he said we must hold politicians to account.
Cameraman who's been doing these interviews for ITV since 1991 can't remember a time a party leader pulled out. Corbyn a first.
Jeremy Corbyn can expect something of a celebrity style welcome when he takes to the stage in Brighton later for his first Leader's Speech.Read the full story ›
As the Labour Party conference gets underway, Stoke MP Tristram Hunt warns his party must focus on winning votes back in the Midlands.Read the full story ›
Former Prime Minister Margaret Thatcher should be on the American ten dollar bill, according to US presidential hopeful Jeb Bush.Read the full story ›
Shadow Chief Secretary to the Treasury, Labour MP for Birmingham Ladywood, has resigned from the Shadow Cabinet.
Tom Watson has been elected deputy leader of the Labour Party following a three-month campaignRead the full story ›