Summary
This report provides the background to the government’s intention to transfer £70m of London boroughs’ New Homes Bonus (NHB) in 2015/16 to the GLA in order to fund the London Enterprise Panel (LEP). It outlines the financial implications of the proposal, London Councils’ response, implications for relations with the LEP and involvement in LEP decisions.
Recommendations
That the Executive comments and provides guidance on the approach adopted so far to reversing and mitigating the impact of the government’s proposals.