Issue - decisions

The Leader of the Council (Policy, Reform & Finance) has agreed that Stockport not participate in the Greater Manchester Business Rates Pool as the analysis of the likely financial impact indicates it would not be advantageous to the Council.  The decision has been taken in conjunction with the other Greater Manchester authorities that were part of the Pool proposal.

The Leader has therefore agreed that the Department for Communities and Local Government be informed that the Council rescinds its application to join the Greater Manchester Business Rates Pool.

(At the meeting on 7 January 2013 the Executive had delegated authority to the Leader of the Council (Policy, Reform & Finance) to make the final decision as to whether or not to continue membership of the Greater Manchester Business Rates Pool.)

The Executive Meeting considered a report on the impact of the new Business Rates Retention Scheme which would come into effect on 1 April 2013, and has agreed that

·         approval be given to 2013/14 Business Rates forecast of £88.758m, in line with the calculation made by the Department for Communities and Local Government in disaggregating Estimated Business Rates Aggregate in the Start Up Funding Allocation set out in the Medium Term Financial Plan Update Report considered earlier in the meeting (see Minute 6 above);

·         approval be given to the NNDR1 return included at Appendix One of the report; and

·         the Leader of the Council (Policy, Reform & Finance) be authorised to make the decision as to whether or not the Council join the Greater Manchester Business Rates Pool.