Decision details

RESOLVED that:

i)     Cabinet approved the continuation of a discretionary business rates discount scheme for businesses accredited with the London Living Wage Foundation, using the qualifying criteria set out in Appendix A to the report from the Strategic Director of Regeneration & Environment.

ii)    Cabinet approved the continuation of the scheme for a four year period from 1April 2019 to 31 March 2023.

iii)   Cabinet approved the introduction of a cap on the maximum discount a business can receive, in line with Option 2 detailed in paragraphs 3.19 - 3.20 of the report from the Strategic Director of Regeneration & Environment , and that the cap be set at £15,000 to guard against the Foundation increasing their costs again and large businesses being eligible for a higher discount.

iv)   Cabinet noted that officers in Employment, Skills, and Enterprise and Customer Services would monitor the scheme in terms of take up and costs and would report back to Cabinet at a later date should any changes to the scheme be required.