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The Leeds City Region Business Rates Pool is made up of seven authorities:
The Pool is a voluntary arrangement between the member authorities made possible by the Business Rates Retention scheme which allows local authorities to retain locally a proportion of any growth in business rates income. The Pool was established on 1st April 2013 with the aim of furthering economic development activities across the region. It is funded from “levies” on business rates growth which would otherwise be paid over to central government.
The operation of the Pool is governed by a formal agreement between the seven authorities which was updated in March 2015. The Pool is led by a Joint Committee made up of the leaders of the seven authorities and is administered by Leeds City Council. The Joint Committee is responsible for making decisions about the use of levies paid in to the Pool.
The Pool generated £3.11m of income in 2015/16.
The Terms of Reference for the Joint Committee, the Pool Governance Arrangement, meeting papers and minutes of Joint Committee meetings are available in the related documents section of this page.
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