Paragraph 5 M

(1)

M (council tax at guideline) is the higher of

(a)

D × 1.045; or

(b)

\frac{H + J - P}{T}

(2)

For D, H and J, see paragraphs 2(3), 3(3) and 4 respectively.

(3)

P is the same as in section 44 of the 1992 Act for the financial year beginning in 1999, increased or reduced in accordance with that section but omitting, for the purpose of this calculation, the amount referred to in subsection (3)(c).

(4)

T is the same as in section 44 of the 1992 Act for the financial year beginning in 1999.