Regulation 24 Calculation of B

(1)

For the purposes of regulation 22(2), B is calculated as follows.

(2)

The Secretary of State—

(a)

must determine and publish the expenditure threshold figure in relation to each assessment date,

(b)

may review the published expenditure threshold figure following a review under regulation 22(3)(a), and

(c)

may, as a result of a review under sub-paragraph (b)—

(i)

increase or decrease the published expenditure threshold figure provided that such increase or decrease may only take effect on 1st October immediately following the review, or

(ii)

determine that the published expenditure threshold figure remains unchanged.

(3)

B is 0 (zero) unless paragraph (4) applies.

(4)

B is 0.10 in relation to the assessment date if, as at that assessment date, the forecast for expenditure exceeds the expenditure threshold figure in relation to that assessment date.