Agenda item

The Director of Markets & Consumer Protection to be heard.

The Director of Markets and Consumer Protection provided the Committee with a verbal update on the Late Night Levy (LNL).

The Committee were informed that a detailed report on the LNL would be submitted to them in early 2016. The Director of Markets and Consumer Protection summarised by highlighting that, to date, the Levy had raised £482k. £320k of this had been allocated to the City of London Police as previously agreed.

Members were informed that over 300 renewals had taken place in September and that the final figure was therefore still a forecast at this stage. Current projections forecast an overall sum of £500k for the first levy year (1 October 2014 – 30 September 2015).   

The Director went on to report that, after administration costs, it was anticipated that the Corporation would be left with approximately £130k. There was no reason to think that the second year amount would vary greatly. Members were informed of how some of the funds had been spent so far including financing additional licensing staff to manage the collection of the levy, continue with operating the risk scheme and enhance the Safety Thirst scheme. Funds had also contributed towards out of hours enforcement by SEO’s and were also likely to include a contribution towards additional cleaning of streets after midnight.

Members requested that similar information from the Police as to how their funds had been utilised be included within the detailed report brought to this committee in early 2016.                                                                                                                                                                                                     

RECEIVED.