Agenda item

Report of the Director of Economic Development.

Members received a report of the Director of Economic Development regarding the Economic Development Office Business Plan 2015-18. A member expressed his opinion that not enough emphasis was given within the plan to the role of the City Corporation as an authority on economic issues and there was a risk therefore that the City Corporation could be seen to fail in taking the lead in being an authoritative voice on economic issues.

            Another member noted that it was important to consider the evolution of the City Corporation’s role in setting the debate on economic and regulatory matters. Both TheCityUK and the International Regulatory Strategy Group were positive developments that reflected the City Corporation’s role as a representative body with significant convening power. The City Corporation could have chosen to set these two bodies up and then provided them with minimal support and direction, but the decision had been made to robustly support them.

The Director of Economic Development noted that comments thus far touched on common operational issues faced by the Economic Development Office. He noted that he has attended that day an event convened by the City Corporation featuring the Latvian President, a Vice President of the European Commission, and a Treasury Minister. He commented that this was a good example of the convening power of the City Corporation and there was a question therefore over how this convening power was used to best effect. Moreover it was important to ensure that the work the City Corporation embarked upon did not duplicate that undertaken by trade associations.

The Director of Economic Development concluded by noting that he was confident the City Corporation was receiving adequate recognition for the economic development work it was undertaking. A briefing meeting would be convened for members to establish if any further effort could be undertaken to guarantee the City Corporation’s continuing success.

A member noted that it was important to consider which aspects of the business plan fell within the remit of the Education Board and requested that the issue be submitted to a future meeting of the Board.

RESOLVED, that the Economic Development Office Business Plan 2015-18 be submitted to the Policy and Resources Committee for approval.