Decision details

1.              That the Cabinet Member for Finance, Property and Regeneration approved the Council’s formal commitment to be a member of the London-wide business rates Pooling arrangement (with distributions of any surplus as set out in the Pooling Memorandum of Understanding) for 2020/21 under the powers contained within the Constitution to determine policy in respect of business rates.

2.              That the Council’s Section 151 Officer be delegated authority to agree the operational details of the pooling arrangements with the participating authorities and to enter the Pooling Memorandum of Understanding.

Reasons for Decision 

The offer for London to enter a Pooling arrangement, as contained in the Provisional Local Government Finance Settlement, requires each London Borough and the Greater London Authority to review and notify the Ministry of Housing, Communities and Local Government by 16 January 2020 if it decides to withdraw from the pool.