Agenda

Summary:

1. In the Budget on 17 November 2022 the Chancellor announced the Government would award a 75% Retail, Hospitality and Leisure Relief for properties up to a cash limit of £110,000 per business for the 2023/24 financial year.

2. In the Budget on 17 November 2022 the Chancellor announced the Government would extend Supporting Small Business Relief (SSB) for another year until 31 March 2024 for businesses who were eligible for the 2022/23 relief on 31 March 2023 and were facing large increases in rates for 2023/24. The Chancellor also announced a new Supporting Small Business (SSB) Relief scheme which will cap bill increases at £600 per year for any businesses that had a Rateable Value (RV) increase from 1 April 2023 caused by the revaluation and consequently lost Small Business Rates Relief or Rural Rate Relief.

3. In the Spring Statement on 23 March 2022 the government announced it would bring forward to 1 April 2022 100% relief for low-carbon heat networks.  

4. On 27 January 2020, the Financial Secretary to the Treasury made a Written Ministerial Statement announcing additional business rates measures that will apply from 1 April 2020 including the extension of the £1,500 business rates discount for office space occupied by local newspapers that will apply for an additional 5 years until 31 March 2025. The scheme will be available to local newspapers that occupy office space. Under the scheme, eligible local newspaper businesses will continue to receive up to a £1,500 discount on their bill for the 2022/23 financial year.

5. The 2016 Autumn Statement confirmed the doubling of rural rate relief available to eligible businesses from 50% to 100%. The Government subsequently set out their intention to amend the relevant primary legislation to require local authorities to grant 100% mandatory rural rate relief. Following the decision not to reintroduce the Local Government Finance Bill, for 2018/19 the Government expects local authorities to continue to use their discretionary relief powers to grant 100% rural rate relief to eligible ratepayers in 2022/23, as they have done previously.

6. Under section 49 of the Local Government Act 1988 businesses can apply for Hardship Relief. This scheme has now been incorporated within this rate relief policy. The cost of this scheme is funded in accordance with the Non-Domestic Rates financial retention rules.

The Government expects local authorities to use their discretionary relief powers to grant these reliefs. All the above (except the Hardship Policy) will be compensated in full for our loss of rates income because of these changes. This compensation will be paid by section 31 grant and calculated based on the returns that the council makes under the rates retention scheme.

The Council’s Discretionary Rate Relief Policy has been revised to reflect these changes.

Conclusions:

The policy has been updated to reflect the new and extended schemes announced and includes guidelines as to how the schemes are to be implemented and the financial implications on the authority.

Recommendations:

Reasons for

Recommendations:

It is agreed  ...  view the full agenda text for item 10.

Summary:

Options considered:

This report presents for approval the budget for 2023/24 and to make statutory calculations in accordance with the Local Government Finance Act 1992 to set the Council Tax for 2023/24. The report also includes the Chief Finance Officer’s report on the robustness of the estimates and adequacy of reserves.

It is a statutory requirement to set the budget each year, whilst there are options around the content of the budget presented for approval, the budget now recommended reflects the recommendations made by Cabinet at its meeting on 6 February 2023.

Conclusions:

It is the opinion of the Council’s Chief Finance Officer that the 2023/24 budget has been set within a robust framework and the impact of this resolution will maintain an adequate level of financial reserves held by the Council.

Recommendations:

Reasons for

Recommendations:

That having considered the Chief Finance Officer’s report on the robustness of the estimates and the adequacy of the proposed financial reserves, the following be approved:

1)            The 2023/24 revenue budget as outlined at Appendix A within this report;

2)            The statement of and movement on the reserves as detailed at Appendix D within this report;

3)            The updated Capital Programme and financing for 2022/23 to 2026/27 as detailed at Appendix C of this report;

4)            The new capital bids recommended for approval as detailed at Appendix C1 within this report

5)            That Members note the current financial projections for the period 2024/25 to 2026/27;

6)            That Members note the results of the Budget Consultation exercise as discussed in paragraph 3.15 and shown in Appendix F.

7)            The Policy Framework for the Earmarked Reserves and the Optimum Level of the General Fund Reserve for 2023/24 to 2026/27 as detailed at Appendix B within this report;

8)            The Local Council Tax Support Scheme (LCTS) for 2023/24 as set out in paragraphs 3.14 to 3.16;

9)            The Council Tax Support Fund as set out in in paragraphs 3.17 to 3.20;

10)         That Members undertake the Council Tax and statutory calculations set out at section 4, and set the Council Tax for 2023/24;

11)         The demand on the Collection Fund for 2023/24 is as follows:

a.    £6,722,490 for District purposes

b.    £2,875,207 for Parish/Town Precepts;

This reflects the recommended Council Tax increase of £4.95 for the District element for an average Band D property.

To approve the 2023/24 budget for revenue and capital and to make the statutory calculations in respect of the 2023/24 Council Tax.

Budget reports and briefings, precepts (NCC, Police and Parishes)

Cabinet Member(s)

All

Ward(s) affected: All

Summary:

Options considered:

Section 38 of the Localism Act 2011 (“the Act”) requires the Council to produce an annual pay policy statement (“the statement”) for the start of each financial year. The attached statement is drawn up in compliance with the Act to cover the period 2023/24. It is a legal requirement that Full Council formally signs off this statement and the responsibility cannot be devolved to any other person or committee.

There are no options to consider as part of this paper.

Conclusions:

The attached statement sets out current remuneration arrangements for officers.

Recommendations:

Reasons for

Recommendations:

To adopt the attached Pay Policy Statement and to publish the statement for 2023/24 on the Council’s website.

To comply with the requirements of the Localism Act.

Cabinet Member(s)

Cllr Tim Adams

Ward(s) affected: All