Budget 2020/21 Engagement
Have your say on our 2020/21 Budget Proposals.
As part of the annual budget setting process, we would like to engage with businesses on the Council’s Budget Proposals for the next financial year.
The Hub Committee have recommended the 2020/21 Budget Proposals to the Full Council meeting on Tuesday 18 February.
We would like to capture the views of businesses electronically (as we did last year) and we have designed a short questionnaire for this purpose.
We would be grateful if you could spare five minutes to share your thoughts. The survey will close on Monday 17 February and the results will be shared with all Councillors.
Key Points on the 2020/21 Budget Proposals in West Devon
West Devon Borough Council is currently forecasting a £0.42m budget gap by 2021/22 (5.8% on a net Budget of £7.2m).
The Council no longer receives a Government Grant (Revenue Support Grant) to fund our services and we need to be self-sufficient. Over the last ten years from 2009/10 to 2019/20, the Council’s core Government funding will have reduced by £3 million.
The full Budget report and proposals are available on the following link: Agenda Item 10 – Revenue Budget Proposals for 2020/21
Business Rate Reliefs
The Government has announced the following additional discounts against Business Rates bills for 2020/21:
Retail Discount - eligible retail businesses that occupy property with a rateable value of less than £51,000 will see their discount rise from 33% in 2019/20 to 50% in 2020/21.
Local Newspaper Offices – will see their £1,500 discount continue for a further 5 years.
Public House Relief Eligible pubs with a rateable value of less than £100,000 will receive a discount of £1000. Where the Public House has a rateable value of less than £51,000, they will be able to receive both this reduction and the Retail Discount. The reduction will be applied to the 2020/21 Business Rates bill that we send out in March.
The Council will identify the eligible businesses and the reductions will be showing on their 2020/21 Non Domestic Rates bills that will be sent out in March.
Business Information Point
West Devon Borough Council allocates some funding to Business Information Point to help local businesses get the free support that they need to help them start-up and grow. Business Information Point does not make a profit and is funded entirely by local councils, central government schemes and European projects.
The local economy is important for employment and the health and wellbeing of residents.
Business Information Point deliver free business support to new and growing businesses across West Devon. Support is available through one-to-one advice with an experienced business advisor on all aspects of setting up and growing a business, including available grant and loan funding, as well as a variety of business skills workshops. All business sectors are eligible for this support.