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Issue - meetings

Business Rates Relief 2025/2026, retail, hospitality and leisure scheme

 

 

Meeting: 09/01/2025 - Cabinet (Item 47)

47 Business Rates Relief 2025/2026, retail, hospitality and leisure scheme pdf icon PDF 515 KB

Purpose

To consider a scheme of rate relief for retail premises as outlined by Government in the Autumn Statement 2024

 

Recommendations

That Cabinet resolves to:

1.    Approve the Retail, Hospitality and Leisure scheme as set out in Annex A for 2025/2026.

2.    Delegate authority to the Interim Executive Director for Resident Services to award such reliefs.

Additional documents:

Decision:

The purpose of the item was to consider a scheme of rate relief for retail premises as outlined by Government in the Autumn Statement 2024.

 

The Deputy Leader and Cabinet Member for Finance and Transformation introduced the item.

 

The recommendations were proposed by Councillor Evemy, Deputy Leader and Member for Finance and Transformation, and seconded by Councillor Harris, Leader.

 

 RESOLVED that Cabinet :

  1. APPROVE the Retail, Hospitality and Leisure scheme as set out in Annex A for 2025/2026
  2. DELEGATE authority to the Interim Executive Director for Resident Services to award such reliefs

 

Voting Record 7 For, 0 Against, 0 Abstention

 

Minutes:

The purpose of the item was to consider a scheme of rate relief for retail premises as outlined by Government in the Autumn Statement 2024.

 

The Deputy Leader and Member for Finance and Transformation introduced the item.

 

It was stated that in response to the pandemic the government had introduced one-off business rate discounts for retail, hospitality, and leisure businesses. An annual decision made by government determines the level of relief offered. The budget announcement declared relief of 40% for 2025/2026.

 

Cabinet approval was sought in order for the officers to apply the discounts and issue adjusted bills to qualifying businesses. Eligibility criteria were outlined in the report, Annex A gave details of qualifying and non-qualifying businesses.

 

Councillor Wilkinson expressed concerns about the potential impact of the increased business rates on local businesses.  Councillor Evemy acknowledged that moving from paying 25% to 60% of their assessed business rates combined with other costs such as the National Insurance increase, would create additional financial pressure on businesses,

 

Businesses in financial difficulty could seek assistance from the Council's business support officer via a hardship scheme, available to those who could demonstrate financial challenges and had a recovery plan.

 

It was noted that it was in the Council's interest to ensure engagement as early as possible with businesses experiencing problems.

Councillor Wilkinson stated that councillors should be wary of the effect on smaller businesses in rural villages which are the lifeblood of local communities.

 

The Leader agreed that the government decision to reduce business rates relief from 75% to 40% would have a huge impact on the economy and small and medium businesses, especially when coupled with the rises in National Insurance contributions

 

Councillor Bloomer proposed an action for the Economic Development Lead to ensure that the availability of support to businesses be put out on social media. 

 

The recommendations were proposed by Councillor Mike Evemy, the Deputy Leader and Cabinet Member for Finance and Transformation, and seconded by Councillor Joe Harris, Leader of the Council.

 

 RESOLVED that Cabinet :

  1. APPROVE the Retail, Hospitality and Leisure scheme as set out in Annex A for 2025/2026
  2. DELEGATE authority to the Interim Executive Director for Resident Services to award such reliefs

 

Voting Record  7 For, 0 Against, 0 Abstention

 

 

 

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