At the spring Budget, the Chancellor announced a £435 million package of support for ratepayers over the next four years following the 2017 business rate revaluation. One scheme within this is a £300 million Discretionary fund for local authorities to distribute over four years to help hard-pressed businesses facing higher rates bills.
Local authorities have been provided an allocation under the £300 million Discretionary fund to provide support this year. The allocations for authorities in my constituency are as follows:
- Daventry- £100,000
- South Northamptonshire- £118,000
- Wellingborough- £100,000
However, implementation is slower than expected in some areas. All available relief must reach eligible businesses, if it doesn't unspent monies will be returned to central government and local businesses may miss out. Local businesses are vitally important to the constituency of Daventry and the country and deserve as much support as possible, as such it is imperative that local businesses contact their respective local authority directly so they can access the relief they deserve.