Childcare nurseries in Leeds are about to receive a much-needed boost, as the Leeds City Council extends its discretionary business rate relief scheme to support the sector. This comes as excellent news for nursery providers who have been facing challenges such as increasing costs and a decline in demand after the COVID-19 pandemic.
The council’s decision aims to provide targeted business rate relief to some of the 100 plus childcare nurseries in Leeds. This move comes as a response to the government’s withdrawal of statutory rate relief in 2022. The extension of the relief scheme offers a sigh of relief for childcare providers in the city, giving them some breathing space.
Starting from October 2023, nurseries will have the opportunity to apply for support under the council’s successful business rate relief scheme. The successful applicants can benefit from up to £15,000 off their annual rate bills. This financial support will enable them to invest in innovation, research, and development or alleviate the growing pressures of operational costs.
The ultimate goal of this support is to help nurseries retain and create high-quality employment opportunities, aligning with the council’s vision of fostering inclusive growth. If you are interested in learning more about the scheme, you can visit their website at https://www.leeds.gov.uk/business-rates/relief-from-business-rates.
Councillor Jonathan Pryor, Leeds City Council’s executive member for economy, culture, and education, said; “Childcare plays a crucial role across Leeds, not only in supporting children’s development but also by helping parents into employment or to continue their own education.
“I’m proud that as a council we are taking action, and stepping in to support childcare day nurseries. Many of these businesses are struggling with inflation and the increased financial pressure linked to the cost-of-living crisis.
“Extending this discretionary business rate relief scheme to childcare day nurseries will provide a welcome boost to the sector. “