Members of the Committee will recall that the
Kent Business Rates Pool (joined by Medway, Dover and Sevenoaks)
was successful in a bid to become a 100% Business Rate Retention
(BRR) pilot for 2018/19, meaning that 100% of Business Rates growth
could be retained in the area, with the Government Levy requirement
removed completely.
Locally it was decided that additional income generated from
Business Rates growth was to be split 70:30 between a
“Financial Sustainability Fund” (FSF) and a
“Housing and Commercial Growth Fund” (HCGF). This
report covers the FSF.
Decision type: Non-key
Decision status: For Determination
Wards affected: (All Wards);
Decision due: 23 Jul 2019 by Policy and Resources Committee
Lead director: Director of Finance and Business Improvement
Department: Finance and Business Improvement
Contact: Mark Green, Director of Finance, Resources & Business Improvement Mark Green, 01622 602297 Email: markgreen@maidstone.gov.uk.
