Business Rates Relief Scheme for businesses accredited with the Living Wage Foundation
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To approve the continuation of the
discretionary NNDR discount scheme for businesses accredited with
the Living Wage Foundation until March 2023.
i) Cabinet approved the continuation of a discretionary business rates discount scheme for businesses accredited with the London Living Wage Foundation, using the qualifying criteria set out in Appendix A to the report from the Strategic Director of Regeneration & Environment.
ii) Cabinet approved the continuation of the scheme for a four year period from 1April 2019 to 31 March 2023.
iii) Cabinet approved the introduction of a cap on the maximum discount a business can receive, in line with Option 2 detailed in paragraphs 3.19 - 3.20 of the report from the Strategic Director of Regeneration & Environment , and that the cap be set at £15,000 to guard against the Foundation increasing their costs again and large businesses being eligible for a higher discount.
iv) Cabinet noted that officers in Employment, Skills, and Enterprise and Customer Services would monitor the scheme in terms of take up and costs and would report back to Cabinet at a later date should any changes to the scheme be required.
Reason Key: Affects more than 2 wards;
Wards Affected: (All Wards);
Contact: Kaya Chatterji, Economic Development Manager, Employment, Skills and Enterprise Email: firstname.lastname@example.org Tel: 020 8937 6673.
Report author: Kaya Chatterji
Publication date: 12/02/2019
Date of decision: 11/02/2019
Decided at meeting: 11/02/2019 - Cabinet
Effective from: 19/02/2019