Government Abandons Pledge to Match BID Scheme Funding?
The Government has apparently abandoned its manifesto pledge to match £ for £ the business sector’s investment in a Business Improvement District (BID) according to the latest BID business plans seen by the GSD.
Roy Clinton the GSD Shadow Minster for Public Finance and Small Business stated:
“It is evident that the Minister for Business is now only providing 50 p in the £ and not matching as he stated in Parliament as recently as July 2020. This can be seen from the latest BID business plan as compared to that presented in September 2020 to GBC.
This row back is becoming a hallmark of his Ministry whereby money is wasted on the Line Wall Road Scheme, the people are taxed with Postal Parcel handling fees and now Government investment in the BID scheme is cut by 50%. Given the uncertainties facing the business sector it is disappointing to see the Government reducing its support for the BID scheme at this time.
I look forward to a ‘clarification’ from the Government.