Lewes District Council could receive an extra £100,000 after Cabinet councillors agreed to be part of a new business rates pilot scheme.
Business rates are currently split 50/50 between East Sussex pooling authorities and the government. Using this system Lewes District Council takes a share of 40% of the growth, 9% is payable to East Sussex County Council and 1% goes to East Sussex Fire and Rescue Authority.
Under the new pilot scheme, 75% of business rate growth income, potentially about £4m, will be retained in East Sussex. The increased share for Lewes district could mean up to £400k for local services. An additional £100k in comparison to the current 50% pooling system.
Councillor Andy Smith, Leader of Lewes District Council, said: “There is a great deal to be welcomed in this new pilot, not least the significant extra funding for public services across the district.
“I am very hopeful that as we attract more new businesses into the area and help them grow, we will see even greater returns from the business rates we collect and greater employment opportunities for our residents.”
The pool of authorities that are taking part in the pilot scheme in East Sussex includes Hastings Borough Council, Eastbourne Borough Council, Rother District Council, Wealden District Council, East Sussex Fire and Rescue Authority, East Sussex County Council and Lewes District Council.
Published on 12 February, 2019