Business Rate retention scheme pilot

Decision made by
Cabinet member for Finance and Performance
Decision
Agreed that the Council participates, together with 14 other Essex Authorities in a bid to be a pilot of the 100% Business Rate Retention scheme for 2018/19.
Reason for decision
To enable the Council to receive a share of the additional business rate growth retained during 2018/19 under either the pilot bid or Essex Region Business Rate Pool.
Summary of alternative options
The potential benefit to the Council should the pilot status be granted by the Government is 2018/19 is £2.2 million.The potential benefit to the Council should the Essex Region Business Rate Pool be agreed by the Government for 2018/19 is £465,000 If the Council did not participate in either of the above then it would not receive a share of the additional business rates growth income in 2018/19
Background documents
None
Declared conflict of interest
None
Date decision made
October 25 2017
Contact us
You can contact us if you would like a copy of the record and supporting papers for this decision. Email [email protected]