Recommendations
Leaders are asked consider the contents of the update report and to comment on any of the specific items covered.
Item 5 - Local Government Finance update: Business Rates Devolution, London Finance Commission & Autumn Statement 2016 (L11/10)
Summary
This report provides an update to Leaders’ Committee on a number of recent important developments relating to local government finance.
These include the Government’s business rates devolution reforms – including London Government’s joint response to the consultation on 100% business rates retention and the Fair Funding Review call for evidence.
At the same time, the Mayor of London has reformed the London Finance Commission which will set out the case for further fiscal devolution to the capital with the intention to influence the Chancellor’s Autumn Statement, which will be delivered on 23 November. London Councils will be making a representation to the Autumn Statement by the 7 October deadline, and the report outlines a summary of the themes this will cover.