Agenda item

Nicola Morton, Head of Local Government Finance, introduced the item, and gave Members an overview of the paper, which updated members on the progress of the LGA’s work related to local government finance policy since the last meeting of the Board.  In particular, the paper focuses on business rates retention reform and progress of the Fair funding Review. 

The Chair thanked Nicola, and invited Members to comment, where the following was discussed:

·         Members raised concerns that there wasn’t sufficient feedback from MHCLG on the pilot applications for 2018/19 that were unsuccessful.  It was noted that that this would be useful for any 2019/20 process.

·         Members discussed the Government’s announcement introducing 75 per cent business rates retention from April 2020 and raised a number of issues including:

·      The split of business rates between authorities within in an area including mayoral authorities.

·      The importance of the relationship with businesses.

·      Members discussed the Fair Funding Review and raised a number of points including:

·      The importance of sufficient funding overall for local government including future pressures;

·      Not rewarding inefficiency; and

·      The importance of using up to date data and the formulae capturing future demand.

Action

·         Officers agreed to send to Resources Board members the criteria set out in the prospectus for 2018/19 pilots to members.