Item 6 - Provisional Local Government Finance Settlement 2017-18 (E17/17)

Summary    

On 15 December 2016 the Secretary of State for Communities & Local Government set out the provisional Local Government Finance Settlement 2017-18 in a ministerial statement to Parliament.

This year’s settlement is the second of the current parliament and four year Spending Review period (2016-17 to 2019-20). For those authorities that have accepted the Government’s four year offer, the provisional settlement confirms Revenue Support Grant allocations for the next three years 2017-18 to 2019-20.

This report outlines the main headlines from the provisional settlement for London local government, including changes to flexibility to raise the Social Care Precept; the new Adult Social Care Support Grant funded by a cut to New Homes Bonus; and changes to the business rates retention scheme resulting from the 2017 Revaluation.