'Foolhardy' to rely on future business rates

LEADER SAYS COUNCIL CAN'T COUNT SOLELY ON TEESWORKS INCOME

- By STUART ARNOLD

Alec Brown

A COUNCIL leader says it would be "foolhardy" to rely on future business rates income from the massive Teesworks complex.

Alec Brown was quizzed at a Redcar and Cleveland Council meeting about quoted figures set to be generated from the site near Redcar.

As the local billing authority, Redcar and Cleveland will collect 50% of the income generated by business rates payments paid by firms located on the redeveloped former steelworks. The other half will go to the South Tees Development Corporation.