Community wealth building in a post-Brexit Britain Cllr. Danny Thorpe Leader of the Royal Borough of Greenwich

What do we mean by post-Brexit Britain? Business uncertainty Employment uncertainty Potential continued wage stagnation Likely continued reduction of public budgets Potential loss in EU grant funding Social tension Cynicism in ‘the system’ Continued business uncertainty due to uncertainty around Britain's future relationship with Europe With this comes uncertainty about jobs, potential race to the bottom on job standards and wages High potential for at least short term negative economic impact that will likely lead to continued reductions in public spending. A potential loss in EU grant funding. The referendum brought forward some deep divides in our society which has increased rates of social tension. A fundamental reason for the vote to leave the EU could be seen as a cynicism and lack of trust in the system and a view that Government does not represent the views of the individuals.

Overview of Greenwich London authority High levels of regeneration High levels of affluence and deprivation High level of tourism which supports service and cultural industries Strong Co-operative heritage Being a London authority brings its benefits and challenges Benefits – Higher levels of investment from private sector Challenges – How do you stand out in a global city and keep wealth within the Borough It is a borough that has seen significant change, with high levels of regeneration and development The borough has areas of high affluence and high deprivation Over 19m visitors to RBG last year Strong history of supporting co-operatives, the home of Greenwich Leisure Limited

What does Community Wealth Building deliver in Greenwich? Strengthens the local economy Keeping money in the Borough by working with, and supporting local businesses Supports the resilience of the individual Supporting local people by putting them in, and keeping them in, well paid, secure jobs Improves the offer to attract investment Ensuring investment and regeneration delivers outcomes beyond new buildings Empowers the resident Bringing economic decision making down to the resident

Strengthens the Local Economy Council spends circa £350m a year on goods, works and services, much of this with local suppliers. Currently reviewing our procurement and commissioning approach as well as our social value policy. Supporting the development of businesses of the future through our Smart City Strategy. Use of derelict space in innovative ways to support and grow local businesses – such as Street Feast.

Supports the Resilience of the Individual Conscious decision to keep services in-house London Living Wage Employer Encouraging local businesses to become London Living Wage Employers Greenwich Local Labour Programme Support for Greenwich and Bexley Credit Union In March 2018 Greenwich employed a total of 7,505 staff of this 3,866 were non-school staff. This is the 7th largest non-school workforce amongst London Borough. Greenwich became a London Living Wage employer in 2013 – currently £10.20 an hour The Council has worked to support a number of businesses into becoming London Living Wage Employers The Greenwich Local Labour Programme has received significant investment from the Council and is designed to support individuals who have been long-term unemployed and place them in a London living wage paying job in the Borough for 6 months. The scheme also provides intensive 1-1 support and childcare arrangements to help support the individual into work. The scheme has been operation since 2013 and has lead to hundreds of residents securing onward employment. All of these actions help to strengthen the resilience of the individuals in our community which subsequently supports the local economy and helps to build community wealth

Improves the offer to attract investment Greenwich has historically been successful in attracting inward investment Focus on making sure Greenwich receives the right inward investment that has a positive long term impact Example DLR – Crossrail – Woolwich Arsenal Regeneration

Improves the offer to attract investment The Council is also investing to help support independent economic growth in Greenwich Creative District Regeneration of the former Woolwich MOD site into a leading cultural destination Large scale concert venues, rehearsal space, studio spaces and offices Over £30 million invested Construction to begin in 2018 DLR decision led to Crossrail which enabled the Council to invest in the Creative District Success of linking inward investment with local investment

Empowers the Resident Important focus on involving residents in local investment decisions Neighborhood growth fund Proportion of Community Infrastructure Levy funds made available to projects run by local residents Ward Budgets Allocation of £30k to each Ward to be used on community projects within that Ward Protecting, and where possible, transferring assets such as community centres to community groups

Summary Post-Brexit Britain is full of uncertainty Prudent financial management has enabled Greenwich to remain a significant local employer Greenwich has been successful at securing inward investment in the Borough It has used this to ensure that its own investments deliver the greatest outcomes locally to help support its independent economic growth High importance placed on empowering and involving residents in local investment decisions to ensure the community can prioritise actions based on their need Post-Brexit Britain is full of uncertainty Prudent financial management has enabled Greenwich to remain a significant local employer, employing people in secure jobs paying a LLW. Greenwich has been successful in attracting positive inward investment, including transport links such as the DLR and Crossrail which has enabled the Borough to make its own investments to support its independent economic growth. High importance placed empowering and involving residents in local investment decisions to ensure the community can prioritise actions based on their need From Greenwich’s experience it is important to have an equal focus on the big and the small decisions as both can be as effective as each other in delivering community wealth.