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The Economic Impact of Business Rates for York and it's City Centre

Meeting: 22/07/2019 - Decision Session - Executive Member for Economy and Strategic Planning (Item 5)

5 The Economic Impact of Business Rates for York and its City Centre pdf icon PDF 239 KB

This reports updates the Executive Member on the economic impact of Business Rates for York and its city centre.

 

Decision:

Resolved: That;

 

a)   A guide to National Non-Domestic Rates (NNDR)  and how the system for charging and collecting them works be noted.

 

b)   Details of the contribution that retained business rates now make to Council budgets be noted.

 

c)   The flexibilities that City of York Council has in terms of providing relief on those rates, our current policies and take-up levels be noted.

 

d)   An analysis of the specific impacts for the city centre  be noted.

 

e)   A consultation process is commenced with business organisations in the city for a review of locally determined policies and future representations on national policies with business rates.

 

Reason:     To be updated on the economic impact of Business Rates for York and its city centre.

Minutes:

The Executive Member considered a report that provided an update on the economic impact of National Non-Domestic Rates (NNDR) on York and its city centre. The Head of Economic Growth gave an overview of the report, explaining how rates were calculated. He also drew attention to the data available on the York Open Data website as detailed in paragraph 5 of the report.

 

The Executive Member commented that the issue of business rates was important to the operation of businesses and whilst there had been some investment in the High Streets funding, a more fundamental review of the system which taxes internet companies in a way that creates a level playing field for businesses. He added that as there had been a focus on other businesses by the government there had been a shortage on policy on the matter and taking this into consideration he asked that a coalition of information for business rate reform by officers. He requested that a consultation process is commenced with business organisations in the city for a review of locally determined policies and future representations on national policies with business rates.

 

Resolved: That;

 

a)   A guide to National Non-Domestic Rates (NNDR) and how the system for charging and collecting them works be noted.

 

b)   Details of the contribution that retained business rates now make to Council budgets be noted.

 

c)   The flexibilities that City of York Council has in terms of providing relief on those rates, our current policies and take-up levels be noted.

 

d)   An analysis of the specific impacts for the city centre be noted.

 

e)   A consultation process is commenced with business organisations in the city for a review of locally determined policies and future representations on national policies with business rates.

 

 

Reason:     To be updated on the economic impact of Business Rates for York and its city centre.


 

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