Traders on Great Yarmouth Borough Council’s two day market could get big cut in rent
- Credit: Nick Butcher
Market traders could get a big cut in their rent if proposals are approved.
A committee decision means rents on the town's two day market could go from being the third highest in the region, to the third lowest.
A report prepared by a Great Yarmouth Borough Council officer recommended rents be cut to £1 per foot – from the £1.73 current rate.
But councillors on the policy and resources committee went one step further by voting for a 50p per foot rate.
It was agreed that the extra rent reduction could be funded for a year before being increased again to £1 and adjusted for inflation.
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Permanent traders will get a rent reduction for 12 months to 50p per square foot and casual traders will pay 30pc more.
The full borough council will now vote on the proposals.
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