Issue - meetings

Investment and Opportunity Strategy

Meeting: 08/06/2015 - Cabinet (Item 6)

6 Investment and Opportunity Strategy pdf icon PDF 1 MB

Report 15-16/22

 

All wards

Key decision

 

Cabinet Member Jobs and Growth

Strategic Director, Commissioning

 

Contacts:

jbennett7@lambeth.gov.uk

John Bennett, Lead Commissioner, Jobs and Growth Commissioning, 020 7926 6452

hpayne@lambeth.gov.uk

Helen Payne, Associate Director, Jobs and Growth Commissioning, 020 7926 6923

 

 

 

 

 

 

 

Minutes:

(Report 15/16-22) (Key decision)

 

The Cabinet Member for Jobs and Growth introduced the report:

·      Vulnerable residents were not able to cope with cuts from central government and this evidence-based strategy had agreed priorities with residents and partners, with the latter to help delivery.  The main thrusts were to deliver a number of jobs with high wages, giving people access to skills making residents competitive, and bringing money into borough; whilst ensuring that it was equitably spread.

 

The Cabinet heard the following representations:

·      Devon Thomas, Director Lambeth Business Advisory/The Co-Op Centre, praised the report for focusing on local people who defined what was required, as increasingly councillors cannot be initiators, but had an important role to help generate business and support.  He noted that expertise and innovation were present in the borough, but needed to be invested back into local people, tapping into that pool.  From his current work with the Afro-Caribbean community, he noted that it was often hard to finance assets with low wages and high rents; creating a map of financial economic assets might be beneficial to the strategy’s continued success.

·      Mark Silverman, Principal of Lambeth College, offered his thanks for the report and noted that the Council and Lambeth College shared priorities and agenda to help local people for job opportunities and was delighted to support, endorse and align during this time of austerity.  He noted that the adult skills budget had been further hit by central government spending cuts and this strategy would help local people access opportunities, with 25,000 new jobs to be created locally, so that they can benefit the community, with Lambeth’s prominent micro-businesses given the chance to grow.  He was pleased that the curriculum identification tallies with that of the Council; centring on construction, technology, science, coding, and hospitality/catering – skills necessary for the future.  The strategy would also help access to apprenticeships, higher level skills, and working with employers for young persons to get them in the right career path or by offering guidance.  It presented a massive opportunity, but an equally massive challenge to work together with limited resources to make Lambeth an attractive place to live and work.

 

The Leader of the Council thanked the speakers and reiterated that the Council was not blind to Lambeth’s huge potential and assets.

 

Cabinet Members made the following comments:

·      The Deputy Leader (Finance and Investment) noted the report showed that Lambeth was able to punch above its weight, would help reduce long-term unemployment, and praised the inclusion of the Child Poverty Act 2010 requirements.

·      The Cabinet Member for Adult Social Care was pleased with the succinct strategy, promoting investment and opportunities from private sector and European partners. Smalls and Medium-sized Enterprises (SMEs) and local businesses would benefit, and although mentoring and free market were important, business itself was key to success.  The importance of using Council funding was noted, but queried whether the use of 25% of the Community Infrastructure Levy represented good practice and asked for a comparison with other local  ...  view the full minutes text for item 6