Discounted business rate for Sheffield

Discounted business rate for Sheffield

Businesses in Sheffield could be granted a discounted business rate if they pay their workers the Living Wage.

The move comes after Sheffield City Council became the first Core City and the only council in Yorkshire to offer a business rate discount to firms.

The discount currently sits at £8.25 per hour outside London, £1.05 more than the new minimum wage set by Government which comes into effect in April.

Sheffield City Council have been a Living Wage employer since 2013 and are looking to award up to £500,000 in discounts in a move to get more local businesses involved in the scheme.

Councillor Ben Curran, Cabinet Member for Resources at Sheffield City Council, explained:

“This is about people being paid a fair wage for the work they do.

“It’s a core element of our vision to create a more inclusive and prosperous economy in the city, where ordinary working people benefit.”

The council’s proposals involve offering a discount up to £5,000 off business rates for 201617 to up to 100 firms that become accredited with the Living Wage Foundation.

The move could see hundreds of local workers receiving a wage boost worth thousands of pounds each year. 

The proposals are being developed and the scheme is expected to be introduced early in the new financial year.