Issue - meetings

Norfolk Business Rates 100% Retention Pilot 2018-19

Meeting: 17/10/2017 - Cabinet (Item 103)

103 Norfolk Business Rates 100% Retention Pilot 2018-19 (Agenda item 9) pdf icon PDF 98 KB

Report of Councillor Phillip Cowen, Executive Member Finance.

Minutes:

The Executive Member for Finance presented the report.

 

The report proposed that Breckland Council takes forward an application for Business Rates Pilot status in conjunction with other Norfolk Districts and Norfolk County Council. 

 

If the application for a Norfolk pilot for 2018-19 was approved, the existing Business Rates Pool would be superseded and dissolved and a predicted £4m in levy payments would be saved – this sum would go to the pilot not to the pool.  The supplementary table that had been circulated at the meeting highlighted how the pool levy would be split amongst the authorities involved.  

 

The Executive Member urged the Cabinet to support the recommendation as this proposal would assist everyone in the District as a significant amount of money would be retained.

 

The Chairman queried the second recommendation in relation to Great Yarmouth Borough Council becoming a full partner.  He also wanted to know about whether the risks had been assessed.  The Executive Director for Commercialisation & S151 Officer explained that Great Yarmouth was not in the previous Business Rates Pool and were now asking to join.  In response to the latter question the risks had been assessed and there were no detrimental clauses to consider.

 

Reasons

 

To agree that Breckland is included in the Norfolk authorities to put forward a 100% business rates retention pilot bid.

 

Options

 

·         That Breckland agreed to be a partner in the Norfolk Business Rate Pilot for 2018-19 and if the pilot bid is unsuccessful to agree that Great Yarmouth Borough Council becomes a full partner in the 2018-19 Business Rates Pool and that delegated authority be given to the Section 151 Officer in consultation with the Executive Member for Finance to finalise the pilot application, subject to a positive business case, whilst working in partnership with the other Norfolk authorities.

 

·         Not to agree to be a partner in the business rates pilot and agree that great Yarmouth Borough Council becomes a full partner in the 2018-19 Business Rates Pool.

 

·         No to agree to be a partner in the business rates pilot and not to agree that Great Yarmouth Borough Council becomes a full partner in the 2018-19 Business Rates Pool.

 

 

RESOLVED that:

 

1)    Breckland agrees to be a partner in the Norfolk Business Rate Pilot bid  for 2018-19;

 

2)    if the pilot bid is unsuccessful to agree that Great Yarmouth Borough Council becomes a full partner in the 2018-19 Business Rates Pool; and

 

3)    delegated authority be given to the Section 151 Officer in consultation with the Executive Member for Finance to finalise the pilot bid application, subject to a positive business case, whilst working in partnership with the other Norfolk authorities.