Council’s money saving bid

News.
News.

Council bosses have drawn up a deal that could save the borough up to £120,000.

New rules mean that Boston Borough Council can keep its business rates cash but if it exceeds a target set by the Government it then has to hand over 50 per cent of the money over and above that figure.

To avoid a possible hefty levy the council is entering into a ‘business rates retention pooling scheme’ with Lincolnshire County Council.

The deal was agreed at the October cabinet meeting with members told that county councils typically receive much less than their required business rates so will not fall foul of the levy.

Coun Mike Brookes said: “I can’t see how we have got any choice.

“The financial implications are that we could be £120,000 better off.

“I think we have got to go for it.”