An estimated 70% of council income will now be raised locally compared to 56% under the centrally-distributed "begging-bowl" Formula Grant system, according to the Communities and Local Government Department (DCLG).
From April 2013, councils can channel this greater local control into encouraging local jobs and local firms via a new business rate retention incentive that rewards them for growth. It could potentially add £10 billion to the economy by 2020.
The DCLG also published 50 examples of where it believed councils could save money, ranging from opening a coffee shop in libraries to scrapping the post of chief executive.
Councils must keep doing their bit to tackle the inherited budget deficit because they account for a quarter of all public spending and still get through over £114 billion of taxpayers' money each year.
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Scotland Yard said the male youths will appear in custody at Westminster Magistrates' Court on Saturday.
Windy this weekend with gales across northwestern parts of the UK. Rain spreading southeast.
Greater Manchester Police said "inquiries are ongoing to fully understand the circumstances of the incident."