Decision details
London Business Rates Pilot Pool 2018-19
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
This report updates members on the proposal
for an expanded London business rates retention pilot via a
pan-London pool in 2018/19.
Decision:
RESOLVED that:
11.1 The report and the draft prospectus from London Councils enclosed in Appendix A of the report, be noted;
11.2 The two founding principles of the London Pool where no authority can be worse off than they would otherwise be under the current scheme and that all London boroughs will share some of the financial gain arising from the pilot pool, be noted; and
11.3 The Chief Finance Officer, in consultation with the Leader of the Council, be delegated authority to indicate an ‘in principle’ decision to participate in a pilot business rates pool in 2018/19 and to enter into negotiations in respect of the legal, governance and administrative framework, the sharing of any financial benefits other details in respect of the operation of the pool.
Wards Affected: (All Wards);
Contact: Conrad Hall, Chief Finance Officer Email: conrad.hall@brent.gov.uk Tel: 020 8937 6528.
Report author: Conrad Hall
Publication date: 12/09/2017
Date of decision: 11/09/2017
Decided at meeting: 11/09/2017 - Cabinet
Effective from: 19/09/2017
Accompanying Documents:
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