One of the mysteries of the English language finally explained.
(formerly in the UK) the imposition of an upper limit on the rates leviable by a local authority.
- ‘In December of 2002, in response to public outrage over the doubling and trebling of electricity bills, the Tories imposed a subsidized rate-cap on the privatized electrical generation market until 2006.’
- ‘Mr Collins said rate-capping was not the answer and in the long run Government would have to fundamentally rethink the way it funded local authorities but in the meantime it would have to tackle unacceptably high increases of recent years.’
- ‘The enterprises that display a more-or-less permanent natural monopoly must be subject to price controls involving price caps (or rate-capping), popularly referred to as CPI - x, where CPI is the consumer price index.’
- ‘And with councils who raised their council tax by more than five per cent facing the risk of rate-capping, he warned the authority would be forced to make cuts in services.’
- ‘The move to a rate-cap has been publicly lauded by steelmaker Stelco Inc.’
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