8:50am Monday 22nd March 2010
By Alex Lewis
Business leaders are calling on Watford Borough Council to use a government grant of more than £50,000 to slash rates for smaller firms.
The Forum of Private Business is urging the authority to target its £52,078 Local Authority Business Growth money to relieve rates for minor entrepreneurs, so the amount can be doubled thanks to match funding from other schemes.
Rates advisor Andrew Bacon said: "As the funds are not ring fenced, councils should use this money to pay for hardship business rate relief for struggling business.
“If the entire £50 million across Britain was used by councils to pay for hardship relief the Government would have to give them another £150 million.
"This is because the relief is 25 per cent funded by the councils and 75 per cent by the state but councils have sole discretion on granting it.”
Three Rivers District Council has received £51,435 from the scheme.
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