Issue - meetings

Report of the Director of Resources

Presented by the Corporate Portfolio Holder

The Corporate Portfolio Holder presented the report. They did note when concluding the report that they felt the current solution benefitted urban areas rather than rural districts, and penalised more entrepreneurial councils such as NWLDC, adding that the Council would get some funding from it rather than nothing.

A member concurred that they had a duty to the public to manage the imperfect option as best they could.

It was moved by Councillor Rushton, seconded by Councillor Blunt and

RESOLVED THAT:

1.      The Council’s continued membership of the Leicester and Leicestershire Business Rates Pool be approved.

2. The proposed new distribution methodology for the Leicester and Leicestershire Business Rates Pool of Leicester City Council (one third), Leicestershire County Council (one third) and all district councils (one third) for the pooling balances in 2020/21, 2021/22, 2022/23, 2023/24 And 2024/25 be agreed.
3. The proposed new distribution methodology for allocating the District Council’s share of the Business Rates Pool as set out in paragraphs 4.3 and 4.4 for the pooling balances in 2020/21, 2021/22, 2022/23, 2023/24 and 2024/25 be agreed.
4. The principle that the data underpinning the methodology for all allocation the district share is updated on an annual basis be endorsed.
5. The annual review from 2025/2026 of the Council’s participation in the Leicester and Leicestershire Business Pool be agreed.
6. The Delegation to the Chief Executive, in consultation with the Chief Finance Officer and Leader of the Council, to approve any agreements necessary to give effect to the new distributive methodology be approved.

Reason for decision: To approve the revised distribution methodology for the Leicester and Leicestershire Business Rates Pool.