There is nothing like a windfall to squabble over – but for Dartford and Gravesham councils it looks like peace in our time.

Chancellor George Osborne’s policy announcement allowing local authorities to retain all the money they raise from business rates means councils are in line to retain millions of pounds each year for their own coffers, instead of seeing it go to the Treasury.

But the neighbouring councils do not envisage an under-cutting rates war to entice more business.

Dartford council leader Jeremy Kite (Con) said: “The detail of the policy will be important to see.

“Dartford is blessed with a big business community which includes Bluewater and Crossways.

“Clearly there will have to be some form of regulation as the current system is a complete dog’s breakfast.

“It would be counter-productive for Dartford to disadvantage Gravesend which doesn’t have as many businesses as we do.

“The policy would need to help us establish a fair base. I want to work at setting up a group of businesses to advise us on what our new rates policy should be.

“Businesses will clearly look for councils that already have low rates like Dartford and Gravesham.”

When it comes to traders operating in our respective boroughs, Gravesham is overshadowed, yielding £20.2 million net collectable business rates last year.

That compares with a whopping £82.1 million brought in by Dartford. No surprises there as the borough, in addition to its high street, has Bluewater with 300 shops and 60 restaurants, and also Crossways offering 320 shops, hotels and leisure facilities.

Gravesham council leader John Cubitt (Con) said: “We welcome having the money to redistribute but we need to see more of the policy detail.”

He added: “I’d be very disappointed if it became a rate war between boroughs. That would be irresponsible.

“It wouldn’t be a sensible way of going forward.”