URL: https://democracy.thurrock.gov.uk/ieDecisionDetails.aspx?ID=1060

Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Purpose:

Content: The Leader introduced the report.   Thames Freeport represents one of the most significant economic opportunities in our regions recent history. Spanning an economic zone across Thurrock and the London Boroughs of Havering and Barking & Dagenham, the Freeport is projected to create 21,000 jobs and attract 4.6 billion of investment over the next 25 years transforming communities and driving long-term growth across east London and south Essex. This Council plays a central and responsible role in making that vision a reality. We act as Accountable Body, ensuring proper assurance and oversight of public funds; as a delivery partner, actively working to realise the Freeport objectives; and as billing authority, administering the business rates reliefs that underpin the programmes financial model. These roles carry real obligations, and this Cabinet report sets out how we intend to fulfil them for the year ahead. The Freeport is now moving from start-up into a genuine delivery phase, with investment beginning to flow and projects taking shape on the ground. This paper asks Cabinet to approve 10.95 million to fund the 2026/27 Freeport Business Plan, drawing on Government funding provided through Section 31 grant payments within the agreed Memorandum of Understanding. It also seeks delegated authority for officers, in consultation with Members, to approve the final business plan and sign the annual Grant Funding Agreement once the necessary assurance checks and subsidy control assessments have been completed. I am pleased to bring this report to Cabinet. The decisions we take today will ensure that the Council continues to meet its responsibilities, that Thames Freeport Limited can press ahead with delivery, and that our residents and businesses can begin to benefit from the jobs, investment and regeneration this programme will bring.   There were no comments or questions from members.   RESOLVED:   2.1Cabinet approved a funding allocation of £10.95m for Thames Freeport for 2026/27, in line with the submitted Business Plan, noting that this sits within the maximum funding envelope determined by the NNDR1 return. Delegate authority to the s151 Officer, in consultation with the Assistant Chief Executive and the Leader, to agree any in?year adjustments to this allocation within the confirmed funding envelope.   2.2 Cabinet delegated authority to the Assistant Chief Executive in consultation with Section 151 Officer and the Leader, to approve the Thames Freeport Business and Finance Plan for 2026/27 following completion of Accountable Body due diligence, governance checks and subsidy control assessment.   2.3Cabinet delegated authority to the Section 151 Officer, in consultation with the Assistant Chief Executive and the Leader to approve and release funding for individual projects within the 2026/27 Business and Finance Plan with a value of £250,000 or above, subject to: ·       submission of a full business case ·       completion of a Green Book compliant appraisal ·       confirmation of affordability within the S31 grant relating to retained business rates.   2.4 Cabinet delegated authority to the Assistant Chief Executive in consultation with Section 151 Officer and the Leader to enter into, vary and sign the Grant Funding Agreement with Thames Freeport Limited for 2026/27, enabling the release of funds in accordance with the approved Business and Finance Plan. Reason for the decision: as outlined in the report This decision is subject to call-in  

Date of Decision: March 18, 2026