NHDC recently hosted a Business ratepayers meeting to clarify to local businesses its income and expenditure expectations for the forthcoming fiscal year. Below are the key points:
- Business Rates (set by National Government) to be set at 45p in £1 for small business and 45.8p in £1 for Standard Business (5.6% increse)
- Businesses with multiple sites below £18,000 Rateable Value can apply for rate relief for ALL properties.
- Government support to NHDC will amount to £5.3 million for 2012/3 which is just 12% of total business rates collected in North Herts and passed over to National Government.
- Looking ahead NHDC are anticipating government support to be cut further. This will require NHDC to find approx £500,000 saving per annum for at least the next four year.
- Last year NHDC removed £1.9m from their budget which included a £860,000 staffing budget reduction.
- The Net budget for 2012/13 will be £15.5m down by £2.5m from the £18m in 2010/11
- NHDC intend to retain three public toilets (Howard Park - Letchworth, Fish Hill - Royston and The Arcade - Hitchin) whilst seeking partners to phase contributions towards maintaining others.
Information will be updated on NHDC website soon.