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More business rates lead to Reading making £1m reserves raid

Reading BC has been forced to raid its reserves by an extra £1m after collecting more business rates than forecast.

Reading BC has been forced to raid its reserves by an extra £1m after collecting more business rates than forecast.

The council's initial 2016/17 budget predicted using £6.8m of reserves but a report to a meeting of the policy committee this week said the final projected use of reserves would be £15.6m.

Dan Peters

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