Businesses in Notts should have been given more than half a million pounds to help with business rates in the last two years. The Discretionary business rates relief scheme started in 2017, the Chancellor announced that the government would make available a discretionary fund of £300 million to support those businesses most affected by the revaluation.
But this money has not been given out by some councils in Nottinghamshire, and has had to be returned to the Government.
When the Government changed the way business rates are calculated, it set aside a pot of money to help firms whose rates had been severely adversely affected.
Councils were given the money, and told to distribute it to business.
Any money not given out would have to be returned.
In Nottinghamshire, figures reveal that Rushcliffe Borough Council has performed significantly better than other councils in returning the money to businesses that need it.
Rushcliffe received £396,081 from the Government under the scheme – and returned £368,788 of that money to local businesses – this leaves just £27,293 ( 6.89 per cent ) to be returned to Government.
Rushcliffe Borough Council’s Cabinet Portfolio Holder for Finance Cllr Gordon Moore said: “The statistics demonstrate Rushcliffe’s commitment to support local enterprise and what a great place Rushcliffe is to do business.
“Our teams’ hard work was important to ensure businesses received the relief in the backdrop of a difficult trading environment in recent years.
“A further recent report highlighted we have the sixth least empty business units in the country and our active investment in business and office space is helping meet the demand for businesses to locate and thrive here.
“This drive to support commercialism in the Borough highlights Rushcliffe is truly open for business and we’ll continue to work hard to distribute the grant even more effectively.”
How did your council perform?
Ashfield – Received from Government – £286,806 Returned – £18,158 6.33 per cent
Bassetlaw – Received from Government – £417,918 Returned – £80,930 19.36 per cent
Broxtowe – Received from Government – £243,964 Returned – £83,386 34.18 per cent
Gedling – Received from Government – £316,543 Returned – £29,471 9.31 per cent
Newark & Sherwood – Received from Government – £518,964 Returned – £394,192 75.96 per cent
Mansfield – Received from Government – £311,536 Returned – £129,982 41.72 per cent
Nottingham – Received from Government – £1,630,261 Returned – £130,527 8.01 per cent