The Non-Domestic Rating (Multiplier) (Wales) Order 2014

Document Number:2014 No. 124 (W. 14)
 
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Welsh Statutory InstrumentsRating And Valuation, WalesMade22 January 2014Coming into force in accordance with article 1The Welsh Ministers make the following Order in exercise of the powers conferred on the Treasury by paragraph 5(3) of Schedule 7 to the Local Government Finance Act 1988(1) and which are now vested in the Welsh Ministers so far as exercisable in relation to Wales(2). A draft of this Order was laid before, and approved by a resolution of, the National Assembly for Wales in accordance with paragraph 5(15) of Schedule 7 to the Local Government Finance Act 1988(3). Title, application and commencement1.  (1)  The title of this Order is the Non-Domestic Rating (Multiplier) (Wales) Order 2014. (2) This Order comes into force on the day after the day on which it is made(4). (3) This Order applies in relation to Wales. Non-domestic rating multiplier2.  For the purposes of paragraph 3 B of Schedule 7 to the Local Government Finance Act 1988 , in the financial year beginning on 1 April 2014 , B is specified as 249. Lesley GriffithsMinister for Local Government and Government Business, one of the Welsh Ministers22 January 2014EXPLANATORY NOTE(This note is not part of the Order) This Order is made under paragraph 5(3) of Schedule 7 to the Local Government Finance Act 1988 (“the Act”). In relation to Wales, the non-domestic rating multiplier is calculated in each financial year when new lists are not being compiled in accordance with paragraph 3 B of Schedule 7 to the Act. 2014 is a year when new lists are not being compiled. The formula in paragraph 3 B includes an item B which is the retail prices index for September of the financial year preceding the year concerned. However, paragraph 5(3) of Schedule 7 to the Act enables the Welsh Ministers by order to specify an alternative amount for item B. If the Welsh Ministers exercise that power in relation to a financial year the alternative amount so specified must be lower than the retail prices index for September of the preceding financial year. This Order specifies that for the financial year beginning on 1 April 2014 the amount for item B will be 249. The Order will only come into force if it is approved by resolution of the National Assembly for Wales (“the Assembly”) before the Assembly approves the local government finance report for the financial year beginning on 1 April 2014. Under paragraph 5(15) of...

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