Agenda and minutes
Economy Committee - Tuesday 30 October 2018 10.00 am

To receive any apologies for absence and any announcements from the Chairman.

1.1  There were no apologies for absence.

Report of the Executive Director of Secretariat

Contact:  Clare Bryant, [email protected], 020 7983 4616

The Committee is recommended to:

(a)  Note the list of offices held by Assembly Members, as set out in the table at Agenda Item 2, as disclosable pecuniary interests;

(b)  Note the declaration by any Member(s) of any disclosable pecuniary interests in specific items listed on the agenda and the necessary action taken by the Member(s) regarding withdrawal following such declaration(s); and

(c)  Note the declaration by any Member(s) of any other interests deemed to be relevant (including any interests arising from gifts and hospitality received which are not at the time of the meeting reflected on the Authority’s register of gifts and hospitality, and noting also the advice from the GLA’s Monitoring Officer set out at Agenda Item 2) and to note any necessary action taken by the Member(s) following such declaration(s).

2.1  The Committee received the report of the Executive Director of Secretariat.

2.2  Resolved:

That the list of offices held by Assembly Members, as set out in the table at Agenda Item 2, be noted as disclosable pecuniary interests.

The Committee is recommended to confirm the minutes of the meeting of the Committee held on 4 October 2018 to be signed by the Chairman as a correct record.

3.1  Resolved:

That the minutes of the meeting held on 4 October 2018 be signed by the Chairman as a correct record.

Report of the Executive Director of Secretariat

Contact:  Clare Bryant, [email protected], 020 7983 4616

The Committee is recommended to note the completed and outstanding actions arising from its previous meetings.

4.1  The Committee received the report of the Executive Director of Secretariat.

4.2  Resolved:

That the completed and outstanding actions arising from previous meetings of the Committee be noted.

Report of the Executive Director of Secretariat

Contact:  Clare Bryant, [email protected], 020 7983 4616

The Committee is recommended to note the recent action taken by the Chairman under delegated authority, namely to agree, in consultation with party Group Lead Members:

(a)  The output from the Committee’s discussion on the London Economic Action Partnership; and

(b)  The Committee’s response to the Mayor’s draft Strategy for Sport in London.

5.1  The Committee received the report of the Executive Director of Secretariat.

5.2  Resolved:

  That the Committee notes:

(a)  The recent action taken by the Chairman under delegated authority, namely to agree, in consultation with party Group Lead Members:

(i)  The output from the Committee’s discussion on the London Economic Action Partnership; and

(ii)  The Committee’s response to the Mayor’s draft Strategy for Sport in London.

(b)   The letters attached at Appendices 1 and 2 to the report.

Report of the Executive Director of Secretariat

Contact: Pauline Niesseron, [email protected]; 020 7983 4351

The Committee is recommended to:

(a)  Note the report as background to putting questions to guests from London and Partners on its impact, value for money and transparency, and notes the subsequent discussion.

(b)  Delegate authority to the Chairman, in consultation with party Group Lead Members, to agree an appropriate output from the meeting.

6.1  The Committee received the report of the Executive Director of Secretariat as background to putting questions on London & Partners (L&P) to the following invited guests:

·  Laura Citron, Chief Executive, L&P; and

·  Andrew Cooke, Managing Director of Operations and Governance, L&P.

6.2  A transcript of the discussion is attached at Appendix 1.

6.3  During the course of the discussion, Members requested additional information from L&P set out below:

·  A breakdown of businesses by sectors and markets used for the L&P methodology used for calculating the impact of L&P activities on the London economy;

·  Examples of the kinds of businesses that L&P have worked with, who consent to having their investments be disclosed;

·  More detail on the information collected from surveys on businesses that have previously worked with L&P;

·  A comparison of venture capital investment in London, compared with to other European Union countries, such as Paris and Berlin, and other world destinations;

·  The number of companies approached to invest in London in 2016/17 and 2017/18;

·  Clarification on how the 30% target for positive media coverage was reached;

·  A breakdown of partnership fees paid by businesses to L&P;

·  Subject to availability  ...  view the full minutes text for item 6.

7.1  In accordance with Section 1.10 of the Assembly’s Standing Orders and section 100b(4) of the Local Government Act 1972 the Chairman agreed to take an additional item of business to consider summonsing information from London & Partners.

7.2  The Committee received the report of the Executive Director of Secretariat.

7.3  Resolved:

(a)  That the Committee, under the provisions of Section 61(1)(b), 61(4)(b) of the Greater London Authority Act 1999 (as amended), require the Chief Executive of London & Partners, Laura Citron, to provide the documents listed below, for which notice will be given in accordance with Section 62 of the Greater London Authority Act 1999 (as amended) in due course and with the documents to be provided no later than two weeks from the date of the notice requiring these documents:

·  Any documents setting out how the claims set out in the London & Partners Annual Review 2016/17 to have added £340 million to London’s economy and supported or created 10,112 jobs in the 2016/17 year were arrived at and all data and information used, including documents setting out: which companies/organisations London & Partners have assisted; how they have assisted them; the evidence for that assistance; and what those companies have then done  ...  view the full minutes text for item 7.

Report of the Executive Director of Secretariat

Contact: Richard Derecki, [email protected]; 020 7983 4351

The Committee is recommended to:

(a)  Note the work programme and prioritises for 2018/19, as set out in paragraph 4.2 to 4.5 of the report; and

(b)  Agree the proposals for the Committee’s November 2018 meeting slot as set out in Appendix 1 of the report namely to look at the impact of universal credit on self-employed Londoners. 

8.1  The Committee received the report of the Executive Director of Secretariat.

8.2  Resolved:

(a)  That the work programme and prioritises for 2018/19, as set out in paragraph 4.2 to 4.5 of the report be noted; and

(b)  That the proposals for the Committee’s November 2018 meeting slot as set out in Appendix 1 of the report namely to look at the impact of universal credit on self-employed Londoners be agreed.

The next meeting of the Committee is scheduled for 20 November 2018 at 10.00 am in the Chamber, City Hall.

9.1  The date of the next meeting of the Committee was confirmed as Tuesday, 20 November 2018 at 10.00am in the Chamber, City Hall.

10.1  The meeting ended at 11.42am.