CONTROVERSIAL plans for a five-fold rent increase for Mexborough Indoor market traders have been scrapped in favour of a lower rate.
The rates for a single stall were originally due to rise from £15.72 per week to £78.60 a week over three years because Doncaster Council could no longer subsidise the market hall at the current rate.
But the authority announced on Wednesday morning that the new rate will be a one-off increase which will bring a typical rent for a secure unit inside the market hall to £36.10 per week.
They will be introduced immediately and back dated to April 1.
But in future years rents may be raised in line with the Retail Price Index.
The authority said the agreement was reached after lengthy and detailed negotiations between the council and traders.
Mexborough market trader Phil Toone said: “The new rents have effectively doubled but we are pleased because they are less than the ridiculous rates they were originally proposing.
“We have said from the start we knew they were going to go up but they needed to be reasonable.”
Mayor of Doncaster, Peter Davies, said: “We have worked hard to find a compromise agreement with Mexborough’s market traders.
“The existing level of rents was far lower than at similar markets elsewhere, but at the same time we were fully aware of the need to keep the rates at an affordable level which would enable traders to maintain their businesses in these difficult economic times.
“This new rate means traders will pay around £6 per day if they choose to trade from Monday to Saturday.
“Prior to this agreement Mexborough market was due to cost Doncaster Council approximately £140, 000 per year, and even after these rent increases the market will require an annual subsidy of around £100,000 each year.”