MORE than 1,600 shops and small businesses in Oxford have been boosted by rate relief discounts worth millions of pounds to help them fight troubling trading conditions on the high street.
With growing numbers choosing to shop online, and big names including Debenhams going into administration, small businesses have been seeking all the help they can get to pay rent and rates.
In Chancellor Philip Hammond's budget in October he cut business rates by a third from April for two years for all retailers with a rateable value of £51,000 or less.
The Government said this would bring an annual saving of up to £8,000 for up to 90 per cent of all independent shops, pubs and restaurants.
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Now businesses which have applied for the rate relief from the city council are feeling the benefit.
Graham MacDonald, who runs iScream gelateria at the Covered Market, said: "The whole process was remarkably simple - the council sent a form across and you only sent it back if you were opting out.
"Now our direct debit has dropped by 25 per cent and we are basking in the sunshine.
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"This is a very good thing for Oxford businesses at a time when there are a lot of changes in the city centre."
Graham Jones, of traders' group ROX - Backing Oxford Businesses - said he was delighted the council has been 'pro-active' in providing the rate relief.
He added: "This is very good news and it makes life easier for small businesses to stick around and have confidence in the future.
"Rox lobbied for this in the autumn and then the Chancellor announced it, so it is good to know traders are now benefitting."
The eligibility criteria for rate relief were set by Government and are the same in Oxford and neighbouring district council areas.
Council spokesman Dave Lansley said: "Our current Retail Discount awards stand at £ 2,379,903.47 awarded to 730 accounts.
"Our current Other Local Discounts stands at £ 88,554.12 awarded to 184 accounts.
"Our current Small Business Rates Relief stands at £2,332,971.55 awarded to 742 accounts.
"This means £4,801,429.14 has been awarded to 1,656 small businesses in Oxford from April 1.
"We have automatically applied the Retail Discount to existing businesses."
Since the Westgate Centre opened with a new John Lewis, and 100 new shops and restaurants in October 2017, there have been major changes on the high street.
Stores have moved out of Cornmarket Street into the Westgate Centre and empty units have appeared at numerous locations including Golden Cross, off Cornmarket.
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But there have been lots of new arrivals at the Covered Market, including the return of a fishmongers, run by David Witts.
In Cornmarket itself, Jesus College has launched a £36m scheme to revitalise shops and provide new student accommodation at Northgate House, and demolition is now under way.
The Westgate Centre attracted 19 million shoppers in its first year and footfall in the city centre was up 8.9 per cent, although it fell in Cornmarket by 4.6 per cent.
In November the city council revealed that it is benefitting from the Westgate Centre's success by an additional £4m a year in rates because the rateable value of the centre has increased significantly.
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