Business rates discretionary retail relief
Wakefield Council's Cabinet is to discuss introducing new business rate relief to support retail businesses across the district.
The proposed retail relief will be equivalent to a one third reduction in the daily chargeable business rates available to almost all retail properties with a rateable value below £51,000 for two years.
There are currently 735 local business expected to benefit from this relief and those that qualify will be automatically awarded, with no need to apply.
If approved, the relief will be fully funded by the government.
Cllr Les Shaw, Wakefield Council's Cabinet Member for Corporate Services, said: "Changes in consumer behaviour are presenting significant challenges for retailers in our district. This proposal will offer financial assistance to local businesses, supporting them to thrive on our high streets and in our town centres and help them to create a sustainable future. It will provide a real boost to a large number of businesses, and at no cost to the Council."
If Cabinet approve the report, the business rates relief policy will be implemented from 1 April.
Senior councillors will be discussing the proposals at the next Cabinet meeting on 15 January.
The meeting will be live streamed, or alternatively can be watched later, at www.wakefield.gov.uk/livestream