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

2. 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.

3. 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

4. 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

5. 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.

6. 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

7. 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

8. 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

9. 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

10. 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.