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Approve the implementation of a Retail Discount Scheme for 2019/20 & 2020/21 as announced in the Autumn budget and in line with detailed guidance issued by Government.
Decision type: Non-key
Decision status: Recommendations Approved
Notice of proposed decision first published: 18/12/2018
Decision due: 11 Feb 2019 by Executive Councillor for Transformation
Lead member: Executive Councillor for Transformation
Department: Customer Services
Contact: Kevin Jay, Local Taxation Manager Email: kevin.jay@cambridge.gov.uk.
Additional Information: Not currently requested for pre-scrutiny.
Background Information: The Government announced in the Autumn Budget that it will provide a fully funded business rate discount to all occupiers of retail premises with a Rateable Value of less than £51,000 in each of the years 2019/20 and 2020/21. This proposal will affect between 500 - 600 retail premises in Cambridge and will provide a discount of one third off ratepayer bills for 2 years. Central Government has recognised that changing consumer behaviour presents a significant challenge for town and city centre retailers. The high street retail sector is changing and there are challenges as they look to adapt to changing consumer preferences in how people shop. The Government wishes to support town centres by providing support to retailers in the form of a reduction in their rate bill. The “Retail Discount” awarded will be no cost to the Council and will be fully reimbursed by the Government.
