Purpose

Thames Freeport is forecast to generate 21,000 jobs, £4.6bn of public and private sector investment together with funding to support the delivery of Freeport objectives. The Council has three roles in relation to the Freeport, as Accountable Body, as a partner and as a Billing Authority.

As Accountable Body (AB) for Thames Freeport, the Council is accountable to the Ministry of Housing, Communities and Local Government (MHCLG) for the use of public funding and for the good governance of the Freeport including the Thames Freeport Governing Body. As a Billing Authority the Council also has responsibility for the use of retained business rates.

This report updates Members on delivery of the Freeport programme with a particular focus on governance arrangements, business rates and the seed capital funding programme. It also seeks to reaffirm delegated decisions to enable the Council to carry out its responsibilities as Accountable Body for the Freeport in an effective and efficient manner.