Item 5 - Local Government Finance - Update (E8/20)

Summary 
This report updates the Executive on the latest financial impact of COVID-19 on London local government, provides an overview of the key themes that will form the basis of London Councils’ representation to HM Treasury ahead of both the Comprehensive Spending Review (CSR) and the fundamental review of business rates in the autumn and seeks a steer on the overall approach to both reviews.
 
Recommendations 
The Executive is asked to:

• note the latest information on the financial impact of Covid-19;

• provide a steer on the key priorities on which to focus lobbying efforts with regard to the CSR;

• agree the broad principle of an ambitious joint London Government response to the Fundamental Review of Business Rates – building on the arguments previously proposed; and

• comment on the proposed lobbying approaches to both reviews.