Congratulations to Rachael Lake and Elmbridge Business Network, for organising their breakfast meeting today, despite the snow and ice. I updated the group on the government's plans for cutting business taxes and red-tape, and expanding investment in finance for small and medium size companies.

Unsurprisingly, we discussed business rates, and the idea for local authorities to receive a greater share of the revenue raised locally (instead of so much disappearing up to Whitehall). The group agreed to write up an analysis of the local impact and some proposals for change. I agreed to take them to the Business Secretary, for consideration within the context of the local government finance review.