Plans to allow local councils to collect, vary, retain - and most importantly - to borrow against local business rates could have a dramatic impact on the inward investment scene.
Announcing the plan, Nick Clegg called it a "dramatic new incentive" to encourage economic growth.
The move should spur local initiatives to attract new business and offers local councils the opportunity to be creative and innovative with their increased fiscal autonomy.
As in life, competition makes you competitive. Greater competition between towns and cities is healthy and will be beneficial both to potential inward investors and the locations that are keen to attract them.
