# The Council Tax (Transitional Reduction Scheme) (England) Regulations 1993, Paragraph 3


“L” is the amount found by applying the formula—
O-PQ where—
O is the billing authority’s scheme budget requirement;
P is the authority’s Exchequer support, and
Q is the authority’s standard tax base.

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Source: https://www.legislation.gov.uk/uksi/1993/175/schedule/2/paragraph/3 (the official version)
Page: https://openlegislation.uk/council-tax-transitional-reduction-scheme-england-regulations-1993/schedule-2/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.