- Hampshire and Isle of Wight regional funding and mayoral power debates
- Shared issues regarding mayoral election delays and funding are impacting the governance of Hampshire and the Isle of Wight.
Hampshire and Isle of Wight to lose £180m in local business rates funding
What happened
Following budget announcements on October 28, Hampshire and Isle of Wight will lose out on a portion of local business rates. Previously, areas with Mayors were set to retain around 20 per cent of collected business rates in 2027, but this provision will not be implemented.
Why it matters
The loss amounts to around £180 million, which was intended for local spending on improving infrastructure, supporting local businesses, building local skills, and protecting the local environment. This funding will instead be directed into a central government pot.
Shared issues regarding mayoral election delays and funding are currently impacting the governance of Hampshire and the Isle of Wight.
Who's involved
- HampshireCeremonial county affected by the loss of local business rates funding.
- Isle of WightIsland and county affected by the loss of local business rates funding.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Isle of Wight CouncilSpeculative
Isle of Wight Council could see its operational budget decrease due to the loss of local business rates funding.
- RushmoorSpeculative
Rushmoor might see its revenue base reduced by the loss of local business rates.
Keep exploring
The entities involved
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Hampshire
ceremonial county of England
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Isle of Wight
island, county and unitary authority area of England, United Kingdom