Issue - meetings

Greater Manchester Business Rates

 

 

Meeting: 29/07/2022 - Greater Manchester Combined Authority (Item 12.)

12. Retained Business Rates Update pdf icon PDF 743 KB

Report of Councillor David Molyneux, Portfolio Lead for Resources & Investment.

 

Additional documents:

Decision:

1.    That a planning assumption for 25% of the 2021/22 retained business rates income to be invested in GM wide initiatives be noted.

 

2.    That the proposed schemes set out in the table at paragraph 5.5 totalling £17.4m be approved.

 

3.    It be noted that this was funded in full from a 25% share of the confirmed 2021/22 income of £16.3m and £1.1m of slippage against previously agreed schemes.

 

4.    That the issues concerning the potential future of the scheme and the potential further Greater Manchester wide commitments be noted.

 

5.    That urgent clarity on the future of the 100% business rate retention pilot be sought from Government to allow authorities to undertake accurate financial planning.