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Local Government Act 1929
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2There shall be estimated and certified the rate in the pound which would be required to raise an amount certified as being the amount of such part of the expenditure for the standard year as would have fallen to be borne by rates (other than special and parish rates) in that area on the following assumptions—
(a)that the rateable values of all hereditaments were the reduced rateable values thereof; and
(b)that the expenditure on the transferred services was expenditure by the county council or the county borough council and in the case of a county was expenditure for general county purposes; and
(c)that the standard year was a year falling within the first fixed grant period and that the provisions of Part VI. of this Act, other than sections ninety-four, ninety-six, ninety-seven and one hundred had been in operation.
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