Issue - meetings

Further to Minute 62(iv) (14 November 2017), the Cabinet Member for Finance, Growth and Investment introduced a report on the Council’s proposed participation in a London-wide Business Rates pooling arrangement in place of the current joint arrangement with Basildon, Havering and Thurrock Councils.

The Cabinet Member confirmed that the new London-wide arrangement was expected to deliver a financial benefit to the Council of £2.8m in 2018/19, helping to protect services provided to local residents.  The scheme had received the support of each of the 33 London local authorities and City of London had agreed to be the ‘lead authority’, assuming responsibility as the accountable body and administrator of the pooled fund.

The Cabinet resolved to:

(i)  Approve and accept the designation by the Secretary of State as an authority within the London Business Rates Pilot Pool pursuant to 34(7)(1) of Schedule 7B Local Government Finance Act 1988;

(ii)  Delegate the Council’s administrative functions as a billing authority to the appropriate lead authority / joint committee;

(iii)  Delegate authority to the Leader and the Chief Operating Officer to agree the operational details of the pooling arrangements with the participating authorities;

(iv)  Authorise the Chief Operating Officer, in consultation with the Director of Law and Governance, to enter into such agreement(s) as may be necessary to implement the Pool and to negotiate, finalise and execute the same on behalf of the Council; and

(v)  Appoint the Leader as the Council’s representative at meetings to consider the allocation of the Strategic Investment Pot and to authorise the Leader, in consultation with the Cabinet Member for Finance, Growth and Investment, the Chief Executive and the Chief Operating Officer, to take decisions on behalf of the Council in respect of Strategic Investment Pot allocations.