Bradford district to get £136m in business rates

Bradford Council gets to keep 49 per cent of the money

Bradford Council gets to keep 49 per cent of the money

First published in News

More than £136 million is expected to be raised in business rates next year across the Bradford district.

Of this cash, half can be kept in the local area under a new Government business rate retention scheme introduced last year.

Bradford Council gets to keep 49 per cent of the money, expected to be about £66.8 million in 2014/15, while the West Yorkshire Fire Authority is given one per cent, about £1.4 million.

The other 50 per cent is paid to central Government.

The scheme is designed to give local authorities a greater incentive to grow businesses in their areas.

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