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Calculation of the Estimated Business Rates Aggregate for 2013-14

We should support projects that help stations demonstrate the value of public media and the powerful impact that it has on their communities. Projects with robust community engagement potential such as Half the Sky; projects that help parents and communities help their children achieve such as American Graduate, PBS Learning Media, and the literacy and numeracy initiatives that we fund under Ready To Learn; and projects that position stations as providers of accurate and trustworthy news and information, all help stations underscore their importance, relevance, and worthiness for community support and local governmental funding | Calculation of the Estimated Business Rates Aggregate for 2013-14 The business rates retention scheme will enable local authorities to retain a proportion of locally collected business rates to help fund the services they provide thereby creating a direct link between business rates collected and local authority income and reducing local authorities dependency on central government grants. The rates retention scheme will provide a strong incentive for local authorities to promote growth. In order to set up the business rates retention scheme the Government has determined the Estimated Business Rates Aggregate - the amount of business rates that it expects local authorities to collect in 2013-14. The Government published a technical consultation paper in July 2012 setting out the basis upon which the Estimated Business Rates Aggregate would be calculated. The Estimated Business Rates Aggregate will be split according to the central and local shares which have each been set at 50 . The local share will be used to calculate the total amount of Revenue Support Grant in 2013-14 and will also be used to derive the individual authority business rates baselines from which tariffs and top-ups are calculated. The Estimated Business Rates Aggregate for 2013-14 has been set at 21 797 million giving a local share of 10 899 million. Methodology The data1 and methodology used to calculate the Estimated Business Rates Aggregate for 2013-14 are Notional Local List Yield This is estimated at 26 297 million calculated as the estimated rateable value at 30th September 2013 multiplied by the multiplier. The estimated increase in notional yield from 2012-13 to 2013-14 is calculated as 2.2 . The multiplier is calculated by uprating the 2012-13 small business rate multiplier of 45.0p by the increase in the all items RPI index between September 2012 and September 2013 of 2.6 . The rateable value for 30th September 2013 is derived from the rateable value for England as at 30 September 2012