Item 6 - Local Government Finance Update (L10/20)

This report updates Leaders’ Committee on the latest funding announcements related to Covid-19 and the estimated financial impact of the virus on London local government. It also provides an update on lobbying ahead of the Comprehensive Spending Review (CSR) and the fundamental review of business rates due to conclude in the autumn and seeks agreement in principle to continue the London business rates pool in 2021-22 ahead of the Government’s deadline of 23rd October.
Leaders’ Committee is asked to:

• note the latest government funding announcements and estimated financial impact of Covid-19 on London local government;

• note the lobbying activity with regard to the CSR and the Fundamental Review of Business Rates; and

• agree in principle to continue the pan-London business rates pool on the same basis as currently in 2021-22.