Issue - meetings

To consider a report by the Head of Financial Services.

Noted progress made to date on the establishment of a local business rates pool as part of the Government’s rates retention scheme and an expression of interest to the Government on behalf of the Cambridgeshire authorities. Approved the proposed management proposals for the scheme and authorised the Managing Directors to make subsequent minor changes as necessary, after consultation with the Executive Leader.

(The Chairman announced that he proposed to admit the following urgent item in accordance with Section 100B (4) of the Local Government Act 1972 given the need to submit the final pooling proposal, following agreement from all authorities, on 19^th October 2012)

Further to Minute No 12/25 and by way of a report by the Head of Financial Services (a copy of which is appended in the Minute Book), the Cabinet were updated with progress made to date on the establishment of a local business rates pool as part of the Government’s rates retention scheme. Members were advised that Cambridgeshire County Council, as the identified lead authority, had made an expression of interest to the Government on behalf of the Cambridgeshire authorities.

In considering the proposed management agreement for the scheme, the distribution of the rates received between the partners and in noting that all partners would be able to review the scheme annually, the Cabinet

RESOLVED

(a)  that the contents of the report now submitted be noted; and

(b)  that the proposed management proposals as set out in Annex B of the report be approved and the Managing Directors authorised to make subsequent minor changes as necessary, after consultation with the Executive Leader.