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The problem with the present system.is that local governments have no direct stake in the profitability of the local businesses.

They rely on property for their income (rents, rates, parking fees and fines etc). The consequnce of this is that, although local governments pay lip service to encouraging small businesses in their area, The fact that they need to extract the maximum from their properties is inimical to the prosperity ( and sometimes to the survival) of small companies.

If local government relied on taxes from profits they would then be encouraged to do those things which profited small businesses