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  Local Government Finance Bill - New Clause 7 - Annual Reset of Business Rate Retention System
  
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  @ MP voted aye for an annual reset of the system for business rate retention by local councils.
  @ MP voted no against an annual reset of the system for business rate retention by local councils.
  
  The majority of MPs voted against an annual reset of the system for business rate retention by local councils.
  
  The Local Government Finance Bill introduced local retention business rates along with a system of a levy and safety net to dampen variations in funding and a provision for payments of a "central share" to the Secretary of State.
  
  
  The proposed new clause rejected in this vote was:
  
  :â(1) The Secretary of State shall be required to make arrangements for a âresetâ of the non-domestic rates retention system every three years.
  
  :(2) Any such reset must include consideration ofâ
  
  :(a) relative spending needs of each authority,
  
  :(b) relative resources available through council tax income,
  
  :(c) relative resources available through non-domestic rates.
  
  :(3) The assessment of relative need shall be determined in full consultation with local government.â.
  
  
  * [1] [http://services.parliament.uk/bills/2012-13/localgovernmentfinance.html Parliament's webpage on the Local Government Finance Bill]
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  