The Government is reportedly planning to let councils lower their business rates to attract more firms to their area. Deputy Prime Minister Nick Clegg is due to champion the plan in a speech to the Local Government Association conference, according to the Telegraph. Under the plan, councils would get to keep the money raised from business rates and choose the levels themselves. Fees will be capped but different areas could lower their rates to attract businesses. Currently rates are set centrally and collected by councils, which send them to the Government to redistribute. The Telegraph says that in his speech, Clegg is expected to say: “We have to create the conditions for communities to invest in their own success. That means putting our money where our mouth is to give you proper power over spending as well as more control over the tax you raise and keep so, for example, you can fight for businesses to come to your town.” He said the plans will be included in a forthcoming consultation and later in a Local Government Finance Bill.