Title: Non-Domestic Rates: Multiplier 2011-12 WALES
Date:
11 November 2010
Summary:
The Minister for Social Justice and Local Government has agreed that a provisional multiplier of 0.428 be notified to billing authorities and be used for the purposes of the calculation of the distributable amount for 2011-12. This figure reflects the annual increase in the Retail Price Index to September 2010. The distributable amount is one of the elements which feed into the local government finance report which must be approved by the National Assembly.
The formula by which the multiplier is calculated is prescribed in Schedule 7 to the Local Government Finance Act 1998, so the multiplier for 2011 – 2011 cannot exceed 0.428 (subject to any adjustment under paragraph 3B(3) of Schedule 7).
In accordance with paragraph 6 (1A) of Schedule 7 to the Local Government Finance Act 1988, we will send you formal notification of the multiplier once it has been calculated by the Welsh Ministers. In accordance with paragraph 6(4B) of that Schedule the calculation may only be made after the Local Government Finance Report 2011-2012 has been approved by the National Assembly or on or after 1st March 2011.
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