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Item 4 - Local Government Finance update: Spring Budget 2017 and 100% Business Rate Retention (L21/17)

Summary    

This report provides an update to Leaders’ Committee on the key announcements in the Spring Budget 2017 that impact on London local government. These are set out in greater detail in the member briefing at Appendix A.

The report also updates Leaders’ Committee on the progress towards 100% business rates retention and London Government’s response to the reforms.

Recommendations    

Leaders’ Committee is asked to note and discuss:
•    the key announcements in the Budget that relate to London local government; and 
•    the progress being made on a London pilot pool for 2018-19 that will require a decision by the autumn.