Issue - meetings

To consider a report by the Head of Policy regarding the emerging Local Authority Business Growth Incentive.

Noted the Government’s Local Authority Business Growth Incentive Scheme.

The Cabinet considered a report by the Head of Policy (a copy of which is appended in the Minute Book) outlining the Government’s Local Authority Business Growth Incentive (LABGI) Scheme designed to allow local authorities to retain a share of increased business rates revenue generated in their areas.

In considering the information contained in the report, Members were advised of the arrangements for the scheme’s operation and having endorsed the sequential approach outlined in paragraph 2.3 with regard to the investment of revenue to be received, the Cabinet

RESOLVED

  that the arrangements for introduction of the Government’s LABGI Scheme be noted and that a further report be submitted when the amount of the Council’s allocation under the scheme is notified.