Council supports businesses with £30m in rate relief
Telford & Wrekin Council has awarded exemptions totalling nearly £30m in discounted business rates to nearly 900 retail businesses across the borough to help them cope with the devastating effects of the lockdown caused by the coronavirus pandemic.
The discount means that 883 retail businesses will not need to pay any business rates for 2020/21.
This discount is given to those businesses in the retail, leisure and hospitality sector subject to Government criteria.
Properties that benefit from the relief will be occupied properties including shops, restaurants, cafes, drinking establishment, cinemas, live music venues, assembly and leisure venues, hotels, guest and boarding premises and self-catered accommodation.
The largest beneficiary will save £1.1m in business rates for the financial year 2020/21.
Additionally, the council has exempted £276,000 in discount to 27 nurseries across the borough, meaning they will also not have to pay business rates this year.
This applies to properties which are occupied by providers on Ofsted’s Early Years Register and are used for the provision of the Early Years Foundation Stage.
To date, the council has also awarded 2146 Business Support Grants totalling over £25m.
The council has contacted all businesses which it believes will qualify for the grant.
In total, 60 per cent of all businesses across the borough will benefit from a total exemption from their full liability for business rates during 2020/2021.
Councillor Rae Evans, Telford & Wrekin Council’s cabinet member for Council Finance and Governance, said: “We are committed to being a business supporting and business winning council and that applies in times of crisis as well as times of success.
“We know that businesses are struggling with the effects of the lockdown and so any way in which we can help them survive, we will seek to do and we are actively lobbying the Government for additional scope to be able to assist those businesses that are falling between the cracks of existing support schemes.”