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Exeter, March 16th, 2016 – Responding to today’s Budget, Charles Kislingbury, director at JLL’s Exeter office, said: “There were some important investments for the South West announced in today’s Budget. The £5million investment in developing options to improve the resilience of the rail line between Newton Abbot and Exeter via Dawlish is crucial, particularly for businesses in Plymouth, Newton Abbot and Torbay who rely on this link. Shoring up this rail line is preferable to diverting the line which could have a detrimental effect on surrounding areas. “The Local Majors Fund is a positive step in helping improve infrastructure in the South West but it’s essential that local businesses have a voice when it comes to deciding on what projects to bid for. Additional funding was also announced to extend broadband coverage in the South West and this is particularly welcome in Devon and Cornwall and will allow towns and cities in these areas to remain competitive with other locations.
“The continued shift towards the devolution of business rates revenue to Local Authorities could be something of a poisoned chalice. While it’s good that the local authorities will have control over this revenue, the reduction in business rates could result in councils facing a funding shortfall for public services.
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