Issue - meetings

To consider a report of the Cabinet Member for Reform & Governance.

At the Budget on 8 March 2017 the Chancellor announced three additional Government measures to provide support to businesses following the Business rates Revaluation. These included ‘Supporting small businesses’ (a relief scheme for businesses facing large increases as a result of the loss of small business rate relief or rural rate relief); ‘Business Rates Relief for Pubs’ (a scheme for one year only to provide a £1K discount to qualifying pubs) and ‘Discretionary fund’ (a national fund of £300 million over four years from 2017-18 to support those businesses which face the steepest increase in their business rates as a result of revaluation). This report considers these three measures and proposes a scheme for allocation of the Discretionary fund.

The Cabinet is invited to agree the proposals for allocating the Discretionary Fund as set out in the report.

Officer contact: Alison Blount, 0161 474 5107, alison.blount@stockport.gov.uk

The Cabinet Member for Reform & Governance submitted a report (copies of which had been circulated) inviting the Cabinet to consider changes to the Business Rates Relief arrangements and the allocation of Discretionary Relief Funding in light of recent Government announcements following the business rates re-evaluation.

Cabinet Members emphasised the increasing importance of Business Rates for local authority finances but the need to balance this against the needs of local business, the voluntary and public sector organisations and the need for a healthy economy. It was also stated that unallocated relief funding would be returned to the Treasury so encouraging uptake was emphasised.

RESOLVED – That the proposals for the allocation of the Discretionary Business Rates Relief Funding, as set out in the report, be approved.

To consider a report of the Borough Treasurer.

At the Budget on 8 March 2017 the Chancellor announced three additional Government measures to provide support to businesses following the Business Rates Revaluation.

·         Supporting Small Businesses – a relief scheme for businesses facing large increases as a result of the loss of small business rate relief or rural rate relief.

·         Business Rates Relief for Pubs – A scheme for one year only to provide a £1k discount to qualifying Pubs

·         Discretionary Fund – A national fund of £300 million over four years from 2017-18 to support those businesses which face the steepest increase in their business rates as a result of revaluation.

Stockport Council already has in place a scheme of locally agreed discretionary Business Rates relief aimed at encouraging new businesses to the Borough and supporting businesses expanding within the borough. There is also in place an agreed scheme for supporting small businesses in town and district centres linked to improvements to their premises, although the funding for this scheme is now exhausted.

The Scrutiny Committee is  asked to comment on the content of the report and the basis of allocation of the reliefs outlined above. 

Officer contact: Alison Blount on 0161 474 5107 or email:  alison.blount@stockport.gov.uk

The Borough Treasurer submitted a report (copies of which had been circulated) responding to the announcement by the Chancellor as part of the Budget on 8 March 2017 regarding three additional Government measures to provide support to businesses following the Business Rates Revaluation.

·         Supporting Small Businesses – a relief scheme for businesses facing large increases as a result of the loss of small business rate relief or rural rate relief.

·         Business Rates Relief for Pubs – A scheme for one year only to provide a £1k discount to qualifying Pubs

·         Discretionary Fund – A national fund of £300 million over four years from 2017-18 to support those businesses which face the steepest increase in their business rates as a result of revaluation.

Stockport Council already had in place a scheme of locally agreed discretionary Business Rates relief aimed at encouraging new businesses to the Borough and supporting businesses expanding within the borough. There was also in place an agreed scheme for supporting small businesses in town and district centres linked to improvements to their premises, although the funding for this scheme is now exhausted.

RESOLVED – That the report be noted.