THE organisers of a scheme to boost city centre trading in Oxford have cut the levy they intend to impose on businesses.

City centre management company OX1 wanted firms to foot the bill for a Business Improvement District to the tune of 1.5 per cent over and above their existing rates.

But that figure has been cut to one per cent after OX1 received feedback from traders coping with rent rises and the credit crunch.

OX1 spokesman Alison Nicholson said: "We have had meetings with the businesses and listened to what they have to say, and how concerned they are with the economic climate at the moment, so the figure has been changed."

The new figure was contained in documentation and a DVD sent to more than 900 city centre businesses, outlining the benefits of the scheme, such as outlawing illegal pedlars and deep cleaning of the streets.

Ms Nicholson admitted the lower levy would mean some extra services would have to be cut, such as reducing the number of street wardens from eight to six.

She added: "Very few services have been scrapped altogether and none that would have had any dramatic impact."

Some traders were concerned they would be paying twice for services such as street cleaning.

But Albert Ford, owner of Plain Leather, in the Covered Market, said: "If we're going to develop the city centre, then it's important we have control over our own destiny. Everything is going up in price but at least we know this money will have a beneficial effect."

Mr Ford calculates that his levy will now be reduced from about £2,250 to £1,500 a year, a saving of £750.

Businesses will vote on the proposals next month, with the result declared on Monday, July 7.

To win the vote, OX1 needs a "double" majority - a majority must vote in favour and those in favour must account for more than 50 per cent of the rateable value of business in the area.