Economy Committee update, November 2016

The central government Valuation Office Agency (VOA) has updated the rateable value of all business properties. The rateable value is used to calculate business rates, which are then collected by councils. London as a whole will see very high increases, but especially so for businesses in central London.

If you are a business owner you   should go online to check their draft rateable value by 30 November to check that the information the VOA use to calculate the rateable value of your property is correct, otherwise you may be paying more than you need to. It is much easier and faster to check the draft rateable value now, rather than appealing your business rates bill in 2017. Checking the draft rateable value now could mean errors will be addressed before 1 April 2017, whereas a business rates appeal process can take a number of months. Please visit this website.

The London Living Wage is to rise to £9.75 an hour from next year, an increase of 35p – well above the national living wage rate brought in by the Government this year. More than 1,000 businesses in the capital will now pay the new rate after 300 new firms signed up. The living wage is different from the new compulsory so called National Living Wage of £7.20 for adults. Sadiq Khan  has asked his deputy mayors to make sure all staff working across the City Hall ‘family’ are paid the LLW after discovering that a handful of Transport for London subcontractors were not.


During this month’s Assembly Plenary, I spoke on the successful motion on the rights of hospitality industry workers.


I attended The Real Junk Food Project event in Burnt Oak, as they are aiming to establish a project based on the success of their operations elsewhere in the country. The idea is to intercept food that would otherwise go to waste from supermarkets, restaurants and a number of other sources, and turn it into healthy, nutritious meals for anyone and everyone on a pay-as-you-feel donation basis.


The Mayor has announced Amy Lame will be his new Night Czar. You can see more about her here.