Decision Maker: Mid Suffolk Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
In the Autumn Statement on 17 November, the Government announced
· A 2023/24 Retail, Hospitality and Leisure (RHL) rate relief scheme providing 75% relief up to £110k per business.
· A new Support Small Business (SSB) relief scheme for 2023/2 to ensure no small business faces a bill increase greater than £50 per month for 2023-24 as a result of losing eligibility for Small Business Rates Relief or Rural Rate Relief.
The Council will need to use their discretionary relief powers (under section 47 of the Local Government Finance Act 1988 as amended) to create a policy to grant RHL & SSB in line with the relevant eligibility criteria. The Council will be compensated for the cost of granting the discount through a section 31 grant from Government.
It was RESOLVED: -
1.1 That Cabinet approved the introduction of the discretionary Retail, Hospitality and Leisure and Supporting Small Business rate relief policies as set out in appendix 1 & 2 for the 2023/24 financial year.
1.2 That Cabinet gave authority to the Director for Corporate Resources in consultation with the Cabinet Member for Finance to agree future changes to the discretionary Retail, Hospitality and Leisure and Supporting Small Business rate relief policies for the life of the 2023 rating list.
REASON FOR DECISION
To provide discretionary reliefs to support Business ratepayers in Mid Suffolk.
To enable the implementation of the discretionary schemes.
Alternative Options Considered and Rejected:
1.1 Option 1 - Cabinet approve the introduction of the discretionary Retail, Hospitality and Leisure and Support Small Business rate relief polices as set out in appendix 1 and 2 for the 2023/24 financial year and;
1.2 Delegate authority to the Director for Corporate Resources in consultation with the Cabinet Member for Finance to agree future changes to the discretionary Retail, Hospitality and Leisure and Supporting Small Business rate relief policies for the life of the 2023 rating list.
1.3 Option 2 - There is no mandatory requirement on billing authorities to provide retail, hospitality and leisure and support small business reliefs, however the Government is funding the scheme. It would be an opportunity missed to support local retailers.
Any Declarations of Interests Declared: None
Any Dispensation Granted: None
Publication date: 07/02/2023
Date of decision: 06/02/2023
Decided at meeting: 06/02/2023 - Mid Suffolk Cabinet
Effective from: 16/02/2023
Accompanying Documents: