Decision details

To seek Cabinet approval for the proposed scheme distributing Government funding to support local businesses facing the steepest increases in their business rates bills as a result of the revaluation.

That the Business Rates Discretionary Revaluation Relief Scheme for 2017/18 be approved.

That authority be delegated to the Executive Councillor for Strategic Resources to agree the revised Business Rates Revaluation Schemes for the next 3 consecutive years

The proposed method of distributing the funding in line with the Council’s Discretionary Revaluation Relief Scheme detailed within the report, gives the greatest amount of relief to small local businesses most affected by the Business Rates revaluation. This reflects the aims contained within the Government’s consultation paper and helps to promote a strong local economy.

It is anticipated that the scheme for 2018/19 and beyond will retain the same basic principles as the scheme for 2017/18 but will be based on reduced funding. Once the initial policy has been approved by Cabinet, future adjustments should be minimal and so it is recommended that the decision on funding distribution is made by the Executive Councillor for Strategic Resources.

None considered.

As detailed in the report.