Where our funding comes from
We plan to spend £239.2m in 2022/23 to provide services for South Tyneside's residents, including £102.4m on education.
Most of our money comes from Government (around 72%) either through our revenue support grant, dedicated schools grant (funding for education), or from business rates. The remaining 28% of our money comes from the council taxpayers. We expect to receive council tax income of £68.0m in 2022/23.
Where we expect our money to come from in 2022/2023
Revenue funding £239.2m
- Council Tax 28%
- Revenue Support Grant 6.5%
- Business rates 18.9%
- Dedicated Schools Grant 42.8%
- Contribution from Reserves/Collection Fund 3.4%
- Parking revenues <1%
Business rates
The amount that local businesses pay is calculated by applying a multiplier set by the Government to the rateable value of the property.
The Government introduced a new system of accounting for Business Rates from 2013/14 in that the Council is now allowed to retain a proportion of Business Rates collected with Government Grant being reduced accordingly.