Local Future Tax Credits: Towards a tool for local government to finance itself and help adapt to the climate emergency

Local governments across the world have been declaring climate emergencies. Part of their response needs to be in attempting to adapt to the disruptions ahead. In an era of financial austerity leading to large cuts in local government budgets, new initiatives to empower them and their communities will be important. By incentivising citizens to pay taxes in advance, Local Future Tax Credits (LFTCs) may provide one way for Local Governments (LGs) to quickly increase cash flow without raising taxes, selling assets, speculating on property, or increasing commercial borrowing. As this paper is released in the hope of receiving constructive feedback, authors have pointed out several areas that would benefit from further research.