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Item 4 - London Business Rates Pilot Pool 2018-19 (L11/17)

Summary 

This report updates Leaders’ Committee on the progress of the proposals to pilot 100% business rates retention via a London pool in 2018-19.

It notes the lack of clarity about the Government’s policy intentions in this area following the General Election and sets out an approach by which London Government could remain in a position to negotiate a 2018-19 pilot pool, should the Government renew its commitment to this approach.

Recommendations 

Leaders’ Committee is asked to note:
• the uncertainty around the Government’s future approach to 100% retention intentions;
• that a draft prospectus for a potential pool based on such information as is currently available will be circulated to Leaders and the Mayor as a basis for consideration over the summer; and
• the need, should the Government agree to continue piloting 100% retention, to be in a position to indicate in-principle support for a pan-London pilot pool by the Leaders Committee and Congress of Leaders meeting on 10th October 2017.