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Decision details

Business Rate Retention Pilots 2019-20

Decision Maker: Executive

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

On 24th July, the Government published an invitation to Councils to apply to participate in a 75% business rate retention pilot scheme, with bids to be submitted to Government by 25th September.  The scheme is designed to give local authorities greater control over money raised locally and increase the overall level of business rates retained by local government.

 

This report sets out the proposal for the Council to participate in the 75% business rates pilot collaboratively with other councils in Hampshire. The pilot is an opportunity for councils to retain a greater share of business rate growth in their area but they will also be exposed to a higher level of business rate risk in 2019/20

 

The pilot will help inform the Government on how different local arrangements, including governance and information systems, work in relation to 75% business rates retention, in order to introduce the reforms across local government in 2020/21

 

Discussions with other Hampshire councils have been positive to date and each council will consider if they wish to submit a joint bid to Government.  It is likely that a joint county and all districts bid would be seen more positively from Government when assessing bids.

Decision:

RESOLVED that the Executive:

 

(a)  agrees in principle to participate in the submission bid for Fareham to be part of a Hampshire-wide 75% business rate retention pilot; and

 

(b)  delegates the agreement of the final submission to the Leader and the Director of Finance and Resources.

Publication date: 05/09/2018

Date of decision: 03/09/2018

Decided at meeting: 03/09/2018 - Executive

Effective from: 15/09/2018

Accompanying Documents:

 

 




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Fareham Borough Council, Civic Offices, Civic Way, Hampshire, PO16 7AZ
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