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999604
registered interest false more like this
date less than 2018-11-01more like thismore than 2018-11-01
answering body
Ministry of Housing, Communities and Local Government more like this
answering dept id 7 more like this
answering dept short name Housing, Communities and Local Government more like this
answering dept sort name Housing, Communities and Local Government more like this
hansard heading Special Economic Zones: Tees Valley more like this
house id 1 more like this
legislature
25259
pref label House of Commons remove filter
question text To ask the Secretary of State for Housing, Communities and Local Government, with reference to paragraph 4.88 of Budget 2018 Red Book, what powers the Government plans to confer on the South Tees special economic area. more like this
tabling member constituency Redcar more like this
tabling member printed
Anna Turley more like this
uin 187061 remove filter
answer
answer
is ministerial correction false more like this
date of answer less than 2018-11-06more like thismore than 2018-11-06
answer text <p>The South Tees site will be designated as a Special Economic Area which will enable the local retention of additional business rates growth. Redcar and Cleveland Borough Council will continue to collect 50 per cent of all business rates in respect of those properties currently situated within the proposed boundary of the Special Economic Area, in line with the current operation of the Business Rates retention System.</p><p>In addition, once the Special Economic Area is established in statute, Redcar and Cleveland Borough Council will retain 100 per cent of all business rates growth obtained within that same area. This additional funding can then be used by the South Tees Development Corporation and Redcar and Cleveland Borough Council to reinvest in local economic growth.</p> more like this
answering member constituency Richmond (Yorks) more like this
answering member printed Rishi Sunak more like this
grouped question UIN
187062 more like this
187063 more like this
question first answered
less than 2018-11-06T17:14:59.147Zmore like thismore than 2018-11-06T17:14:59.147Z
answering member
4483
label Biography information for Rishi Sunak more like this
tabling member
4449
label Biography information for Anna Turley more like this