Calculation of the multiplier is determined by a formula set out in schedule 7 of the Local Government Finance Act 1988.
Ministers and officials from the Department regularly meet representatives of the business community and local government to discuss business rates matters. Since the announcement of the business rates deferral scheme officials have in particular held discussions on its implementation and administration.
Various rateable value thresholds are used in the non-domestic rating system to target rate relief at smaller properties. We will consider all rateable value thresholds in light of the 2010 revaluation over the course of the rest of this year.