Issue - meetings

The report of the Executive Manager – Finance and Corporate Services.

It was RESOLVED that:

a)    the agreement entered into with the seven Nottinghamshire District/Borough Councils, Nottingham City Council and the Nottinghamshire and City of Nottingham Fire and Rescue Authority, to progress the bid to become a Business Rates Retention Pilot for 2019/20, be supported

b)    the Chief Executive and Executive Manager – Finance and Corporate Services be delegated authority to progress the final proposal if the application is successful.

c)     the progress regarding the bid is reported via the Council’s Medium Term Financial Strategy 2019/20 to all Councillors.

The Portfolio Holder for Finance presented the report of the Executive Manager – Finance and Corporate Services which provided information regarding an agreement between the Nottinghamshire district/borough Council’s, Nottingham City Council and the Nottinghamshire and City of Nottingham Fire and Rescue authority to submit an application to become a Business Rates Pilot area for 2019/20.

The report advised that central government had invited local authorities in England to apply to become 75% business rates retention pilots in 2019/20 and with potential transition to the proposed new scheme in 2020/21. It was noted that the deadline for applications had been 25 September 2018, and in order of the Council to meet the deadline, the Portfolio Holder for Finance had, under delegated authority, with the Council’s Section 151 officer, approved the principals of the bid. It was noted that approximately 30 applications had been submitted from other local authorities and that only 10 would be successful to take part in the pilot scheme.

In moving the recommendations, the Portfolio Holder for Finance advised that if the bid was successful, progress would be reported to all Councillors through the Council’s Medium Term Financial Strategy 2019/20.

In seconding the recommendations Councillor Upton noted that it was beneficial for the Council to take part in the Business Rates Pilot Scheme as across the County area the potential gain could be up to £10 million during the length of the pilot scheme. Councillor Upton noted that if the application was successful, it would allow Nottinghamshire local authorities to influence the future development of local government funding.  

It was RESOLVED that:

a)    the agreement entered into with the seven Nottinghamshire District/Borough Councils, Nottingham City Council and the Nottinghamshire and City of Nottingham Fire and Rescue Authority, to progress the bid to become a Business Rates Retention Pilot for 2019/20, be supported

b)    the Chief Executive and Executive Manager – Finance and Corporate Services be delegated authority to progress the final proposal if the application is successful.

c)     the progress regarding the bid is reported via the Council’s Medium Term Financial Strategy 2019/20 to all Councillors.

REASON FOR DECISIONS

To demonstrate good governance in terms of scrutinising the Council’s ongoing financial position and delivering a sustainable Medium Term Financial Strategy.