Report of Director of Economic Development.
The Sub-Committee considered a report of the Director of Economic Development regarding Development Finance. Members heard how this proposed Steering Group would be joining up existing workstreams and looking at what could be done to secure London as a pre-eminent financial services centre, as well as being the interface between the private and public sector.
Members were broadly supportive of the proposal but had some questions over the financial implications of the work. The Assistant Director of Economic Development advised Members that the funding would be contained within existing budgets.
RESOLVED, that it be recommended to the Policy and Resources Committee to:
· Approve the Economic Development Office’s proposal to begin a new programme of work in development finance;
· Approve the Economic Development Office’s proposal to establish a High-Level Steering Group to guide, advise and set the direction to the new programme of work in development finance.