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Business rates retention

Boston Borough Council is to join a scheme which could save as much as £120,000 a year.

The business rates retention pooling scheme will see the borough council joining forces with Lincolnshire County Council to retain business rates collected over and above target, half of which would otherwise pass to central Government.

County councils are not required to pay the levy to Government and the borough council is to pool its business rates collection with the county council. At worst the council will be no worse off, but at best it could retain £120,000.