London Living Wage business rate relief scheme

Meeting: 
MQT on 2017-08-10
Session date: 
August 10, 2017
Reference: 
2017/3150
Question By: 
Andrew Boff
Organisation: 
GLA Conservatives
Asked Of: 
The Mayor

Question

Will you introduce a business rate relief scheme for SME Living Wage employers?

Answer

Answer for London Living Wage business rate relief scheme

Answer for London Living Wage business rate relief scheme

Answered By: 
The Mayor

I support business rates relief schemes being offered to SME living wage accredited employers. However only the 32 London boroughs and the Corporation of London currently have the powers to introduce discretionary business rates discounts and reliefs to ratepayers.  I had been pushing for these powers to be extended to the Mayor of London and other elected Mayors through the 2017 Local Government Finance Bill but that legislation was dropped by the Government following the General Election.

Several London boroughs have already introduced business rates discounts for SME living wage accredited employers and I would encourage other boroughs to do the same. Under the business rates retention system boroughs would only bear 30% of the cost of the relief with the GLA bearing 37% and the Government 33%.