Report to follow

Purpose: to set out proposals to government for forming a pilot for an Oxfordshire Business rates pool in 2018/19, including retention of business rates growth in the interests of the county.

Recommendation: that the Growth Board note and endorse the proposals.

The Board considered a report (published after the agenda) setting out the application from the six councils of Oxfordshire to be considered as a pilot for the 100% Business Rates Retention Scheme for 2018-19.

The Board noted that:

·         the proposal had been submitted on 27 October and a decision on the pilot areas would be announced shortly after 22 November;

·         if the bid was successful, additional funding would be distributed via the Growth Board: if unsuccessful then the current pooling arrangements would continue;

·         the pilot was for one year initially and the scheme would have to be reviewed before committing to any extension;

·         Councillor Cotton’s comments that there was a need to be cautious and not overcommit or over-offer.

The Board agreed to formally record its support for the application.