Issue - meetings

To inform members of a proposed change to the discretionary business rates relief policy to encourage inward investment into the area by new businesses.

Members received a report seeking adoption of a discretionary business rates relief policy to encourage inward investment into the area by new businesses. Members sought clarification regarding maximum levels of relief and they were advised that all reliefs would be subject to state aid maximums. Following discussion, it was moved by Councillor Hall, seconded by Councillor Allen and

RESOLVED – the new incentive policy of 50% for two years for businesses representing a new economic activity for the Leicestershire area and meeting relevant criteria be adopted.

Report to inform members of a proposed change to the discretionary business rates relief policy to encourage inward investment into the area by new businesses. Members are asked to endorse the recommendations to the Executive.

Members were informed of the proposed change to the discretionary business rates relief policy to encourage investment into the area by new businesses. It was emphasised that this policy was not intended to encourage businesses to move from elsewhere in Leicestershire, but to discourage them from moving away from the area. Whilst it was explained that all authorities were able to adopt such a policy, Hinckley & Bosworth was the only authority in Leicestershire currently pursuing it.

At this stage, Councillor Bray asked it to be recorded that he was a member of Leicestershire County Council and the CFA, who were both consultees on the policy.

Concern was expressed in relation to measuring the success of the incentives.

RESOLVED –

(i)            the policy be supported and RECOMMENDED to the Executive;

(ii)           the application of the policy and benefit to businesses be reported back to the Scrutiny Commission.