A report presented to Policy and Resources Board on 13 December 2012 outlined the changes to the distribution of business rates income with effect from 1 April 2013.

Members were reminded that, under the Business Rates Retention Scheme, Local Authorities were able to voluntarily form a business rates retention pool.  Local Authorities within a pool were treated as a single authority with all Tariffs and Top-Ups being combined and a single levy rate being applied.

The report considered the concepts and implications of joining an Essex Wide Pool in 2015/16 and sought a decision on whether Brentwood Borough Council should be included.

At its meeting on 9 October 2013 the Performance and Resource Committee had agreed not to join the Essex Wide Pool in 2014/15 since the initiative  was untested and the outcomes uncertain.

Cllr Aspinell MOVED and Cllr Lloyd SECONDED the recommendation included in the report and following a discussion a vote was taken on a show of hands and it was RESOLVED that the Council joins the Essex Wide Pool for business rates in 2015/16.