Council backs business rates cut to boost jobs and growth

May 13, 2014

The initiatives put forward by Aylesbury Vale District Council include rates discount for new development and town centre premises, as well as match funding to support initiatives aimed at helping local businesses.

High-value businesses moving into the Vale could benefit from up to two years of business rate discounts as part of the council’s plans.

Traders moving into a vacant town centre property could receive a discount on rates for up to two years under a re-occupation relief scheme for properties that have been empty for less than 24 months.

The scheme would apply to Buckingham and Winslow, as well as Aylesbury. Businesses such as food and beverage or other uses which would encourage footfall and spend could qualify, as well as retailers.

Councillors on the AVDC cabinet have agreed initial proposals which will now go to the Economy Scrutiny Committee for further development.

Cllr Steve Bowles, cabinet member for economic development and major projects, said: “This is an exciting time for business in the district and as a council we are providing a stable platform on which businesses can plan, build and flourish.”

The council also says that all the extra £166,000 raised from the 1.99% council tax increase will be used to support for business growth.

The council will also be boosting its in-house team to help deliver the new schemes and is proposing to provide match funding for Aylesbury Vale projects that are awarded EU funding from Local Enterprise Partnerships.

Cllr Bowles said: “We want to promote Aylesbury Vale as the best place to do business and this strategy is all about delivering economic growth."

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