Decision Maker: Cabinet
Decision status: Approved
Is Key decision?: Yes
Is subject to call in?: Yes
The Cabinet will be asked to approve a revised Business Rate relief policy for the dispersal of grant funding to businesses impacted by Central Government’s revaluation of business properties.
The Cabinet resolved to:
(i) Approve an increase in the rate of relief applied under the 2017/18 Local Discretionary Business Rate Relief Scheme from 5% to 8.5% to ensure that the grant funding is fully utilised to the benefit of local businesses in the current financial year;
(ii) Approve the Local Discretionary Business Rate Relief Scheme for 2018/19, as set out at Appendix A to the report; and
(iii) Authorise the Chief Operating Officer, in consultation with the Cabinet Member for Finance, Growth and Investment, to finalise the Local Discretionary Business Rate Relief Schemes for 2019/20 and 2020/21, including determining the rate of relief to be applied, in line with the principles within the current policy.
Report author: Katherine Heffernan
Publication date: 21/03/2018
Date of decision: 20/03/2018
Decided at meeting: 20/03/2018 - Cabinet
Effective from: 29/03/2018
Accompanying Documents: