DCLG have published a paper on 1st September
inviting local authorities to submit pilot bids for one year
(2018/19) for 100% localisation of business rates. Bids must be
submitted by 27th October, with the outcome being advised by DCLG
100% pilots will retain all locally-collected business rates and will receive additional responsibilities in return. Any difference between the increase in business rate retention and new responsibilities will be offset by an adjustment to top-ups or tariffs. The creation of the pilots will therefore be “fiscally neutral” at baseline. However authorities will gain from retaining 100% of any above-baseline growth.
This report will seek delegated approval from Cabinet for The Council’s Chief Executive and the Head of Finance and Governance to commence drafting a bid submission in conjunction with their colleagues from across the County. If successful the final decision whether to go ahead with the pilot will be taken by full Council once the DCLG have notified the bidding authorities.
Decision type: Key
Reason Key: Expenditure > £100,000;
Decision status: Recommendations Approved
Notice of proposed decision first published: 04/09/2017
Decision due: 3 Oct 2017 by Cabinet
Contact: Mr John Ward, Head of Finance and Governance Services Email: firstname.lastname@example.org.